Exploring the Potential of Central Bank Digital Currencies in Africa
Source: Ripple (This post was originally published in 2022 and has been updated as of May 2024) A few reasons for the aforementioned financial exclusion include cost barriers to opening an account, high remittance fees, a lack of identifying documentation, limited access to physical bank branches, and an economy that still largely operates on cash. […]
World Bank Partners with SNB and SDX to Issue First Digital Bond using Swiss CBDC
The World Bank has successfully issued the first digital bond in Swiss Francs (CHF) by an international entity, with a total value of CHF 200 million. This seven-year bond, the largest CHF issuance by the World Bank since 2009, utilises Distributed Ledger Technology (DLT) and will settle using the Swiss National Bank’s (SNB) wholesale Central […]
Rwanda Publishes New CBDC Feasibility Study
A comprehensive feasibility study on the potential implementation of a Central Bank Digital Currency (CBDC) in Rwanda has revealed several key opportunities and challenges from economic, functional, legal, and financial perspectives. This study emphasises the strategic advantages and the robust design considerations necessary for the successful integration of a CBDC into Rwanda’s financial ecosystem. The […]
Making CBDCs work for offline payments
Source: Quant In this article, we explore some of the key challenges associated with offline payments, why they must be an integral part of any central bank digital currency project and how to ensure that – while offline – they are secure and resilient enough to protect against cyberthreats and other financial crime. What are […]
Hong Kong Introduces New Group to Expand Tokenization Market
The Hong Kong Monetary Authority (HKMA) has launched the Project Ensemble Architecture Community (PEAC) to collaborate with various industry stakeholders in advancing Hong Kong’s tokenization market. This initiative seeks to establish a framework of industry standards aimed at enhancing interoperability among different digital assets, including wholesale Central Bank Digital Currencies (wCBDC), tokenized money, and tokenized […]
The Social and Economic Benefits of a CBDC | Poundcast Episode 15
In Episode 15 of the Poundcast, we are joined by Simon Youel, Head of Policy and Advocacy at Positive Money, a key player in the realm of economic reform and an advocate for the responsible creation and distribution of money. As a recent addition to the DPF community, Positive Money brings a wealth of insights […]
Bank of Japan’s CBDC Update: New API Sandbox for Digital Yen Development
The Bank of Japan (BoJ) recently shared insights from an interim report on its ongoing exploration into a central bank digital currency (CBDC), highlighting the launch of a CBDC API Sandbox earlier this month. This new phase of development draws inspiration from the Bank of England’s Project Rosalind and represents an advancement from the two […]
Mauritania Central Bank Collaborates with Giesecke+Devrient to Develop a National CBDC
The Central Bank of Mauritania (CBM) has partnered with the German security technology company Giesecke+Devrient (G+D) to create and launch a digital version of its national currency, the Ouguiya. This collaboration aims to explore the potential benefits and requirements of a Central Bank Digital Currency (CBDC) in Mauritania. The goal of the agreement between CBM […]
Modernizing Financial Markets with Wholesale Central Bank Digital Currency (wCBDC)
Achieving secure and efficient modernisation of wholesale financial markets will require close collaboration between the public and private sectors. As such, the World Economic Forum, in collaboration with Accenture, have published a new report exploring practical insights for policymakers and the private sector as they plan for the potential adoption of wCBDCs. Nearly all central […]
New Zealand Enter Stage 2 Exploration into CBDC
In an era increasingly defined by digital transactions, the Reserve Bank of New Zealand (RBNZ), also known as Te Pūtea Matua, is exploring the introduction of a digital cash system. Their initiative aims to complement, rather than replace, the traditional use of physical cash, acknowledging the evolving payment landscapes while maintaining a stronghold on accessibility […]
