Project Promissa: A New Collaboration Between World Bank, Swiss National Bank and the BIS Innovation Hub to Test Financial Instrument Tokenization
Project Promissa, a new collaboration announced between the BIS Innovation Hub Swiss Centre, the Swiss National Bank, and the World Bank, is spearheading an experiment to revolutionise the way financial instruments, particularly promissory notes, are managed. These notes, traditionally paper-based, are crucial in funding international financial institutions, including multilateral development banks. As part of a […]
Turkey Advances to Second Phase Testing of Digital Lira CBDC
The Central Bank of the Republic of Turkey (CBRT) has made significant strides in its exploration of a central bank digital currency (CBDC), completing the first phase of its pilot program. A report released on New Year’s Eve detailed this progress and outlined plans for a second phase of testing, after which a decision on […]
Positive Money Partners with the Digital Pound Foundation to Raise Awareness for the Social and Economic Benefits of Digital Money
We are delighted to announce that Positive Money has joined the Digital Pound Foundation (DPF) as a strategic partner. Positive Money is an independent, not-for-profit research and campaigning organisation working towards a money and banking system that supports a fair, democratic and sustainable economy. The group is politically non-partisan and engages with policymakers from across […]
The Bank of Spain Advances CBDC Testing with Selected Partners
A year after issuing a call for collaboration on central bank digital currency (CBDC) tests, Spain’s Banco de España has now selected its partners. The announcement, made on January 3, identified Cecabank, Abanca, and Adhara Blockchain as the chosen collaborators among 24 applicants. Over the next six months, a pilot will be conducted focusing on […]
European Central Bank’s Digital Euro Initiative: A €1.1 Billion Opportunity for Vendors
The European Central Bank (ECB) recently announced a call for vendors to provide services and components for the prospective digital euro, with potential contracts totaling over €1 billion. This initiative follows the ECB’s transition from the investigation to the preparation phase of the digital euro project, which began in October. However, a final decision on […]
Norway’s Central Bank Explores Future of Finance with Fifth Round of CBDC Trials
Norges Bank, the banking regulator of Norway, recently announced the completion of its fourth round of central bank digital currency (CBDC) studies. However, the findings have somewhat cooled the enthusiasm for introducing a retail CBDC. In their detailed 20-page report, Norges Bank indicated that the well-developed local payment ecosystem might increase the chances of conducting […]
Indonesia’s to Begin Digital Rupiah CBDC Blockchain Trial in 2024
Bank Indonesia (BI) is advancing its efforts to launch a trial for its central bank digital currency (CBDC), the digital rupiah, in 2024. BI Governor Perry Warjiyo revealed that the digital rupiah will utilise blockchain technology, aiming to digitise the Indonesian currency. This initiative places Indonesia on the path to join countries like China and […]
Eastern Caribbean Central Bank Seeking Technology Partners for DCash 2.0 CBDC Project
The Eastern Caribbean Central Bank (ECCB) is currently in the process of exploring the development of an advanced version of its digital currency, named DCash 2.0. As part of this endeavour, the ECCB has initiated a request for vendor information (RFVI). This request aims to gather insights from entities that have either created a retail […]
Forward Titans Triumph in the Bank of Ghana’s CBDC Hackathon
The Bank of Ghana (BoG) recently marked the completion of its central bank digital currency (CBDC) hackathon, a significant milestone in the development of its digital currency, the eCedi. The hackathon, a collaborative effort involving various stakeholders, was focused on creating innovative solutions for the eCedi using Hedera’s public Distributed Ledger Technology (DLT) and EMTECH’s […]
Bank of Korea Teams Up with LG CNS for Wholesale CBDC Trials
The Bank of Korea (BOK) has recently awarded a contract to LG CNS to develop a wholesale central bank digital currency (CBDC) system. The contract is a result of BOK’s plans, announced last October, to conduct two wholesale CBDC trials. The first trial will explore the use of a wholesale CBDC for interbank settlement involving […]
