May 1st, 2025
CBDC News - Page 12
Ripple to Work with Central Bank of Montenegro to Launch Its CBDC Project
By Bhushan Akolkar
April 11th, 2023
Ripple said that the CBDC project will involve several stages such as identifying the practical application of the CBDC, simulating its circulation, as well as its use under controlled conditions.
India Eyes One Million CBDC Users Over Next Three Months
By Bhushan Akolkar
April 6th, 2023
Sources familiar with the matter said that the architects of the retail CBDC are working to incorporate offline transactions and eyeing half a million users by July.
Central Reserve Bank of Peru Finalizes CBDC Research Stage, Three More Phases to Production
By Steve Muchoki
April 6th, 2023
The President of Central Reserve Bank of Peru (CBRP), Julio Velarde Flores, announced in November 2021 that the country would cooperate with India, Singapore and Hong Kong to develop a CBDC.
Citi Believes CBDCs and Tokenization Will Drive Mass Adoption of Crypto
By Bhushan Akolkar
March 31st, 2023
Citi believes that the tokenization of financial and real-world assets on the blockchain platform would be a “killer use case” and could reach up to almost $4 trillion in value by 2030.
Euroclear to Launch DLT-based Bond Settlement Platform This Year
By Bhushan Akolkar
March 31st, 2023
Euroclear conducted a recent trial with the French central bank for using blockchain technology for bond transactions using CBDC as a payment.
Japanese Government to Create Panel to Explore Digital Yen
By Ibukun Ogundare
March 30th, 2023
While there is a plan to set up a panel in April, the Japanese government is also launching a pilot program for the digital yen in the same month.
Nigerians Massively Adopt CBDC as Physical Cash Becomes Scarce
By Sanaa Sharma
March 22nd, 2023
While the Nigerian legislative body is optimistic about the country’s adoption of eNaira, there is still significant work to be done to enhance the digital infrastructure for financial practices in the country.
Governor Ron DeSantis Floats Bill to Ban Use of CBDCs in Florida
By Mayowa Adebajo
March 21st, 2023
The United States has been working on its own CBDC after the Biden-led administration developed policy objectives in 2022.
IMF Studies How CBDCs Imply Islamic Banking System
By Ibukun Ogundare
March 21st, 2023
The IMF explained that CBDCs design is complicated by Islamic law prohibiting usury and speculation.
US Federal Reserve Set to Float FedNow Payment Service in July
By Godfrey Benjamin
March 16th, 2023
With the emergence of the FedNow payment system, the need for a digital dollar is now being pushed back to the sidelines by the Fed leaders.
India and UAE to Collaborate on Interoperable CBDC
By Babafemi Adebajo
March 16th, 2023
By issuing a CBDC, the UAE hoped to address its cross-border payment challenges and ‘drive innovation for domestic payments’.
SWIFT Is Moving to Phase Two in Its CBDC Tests
By Godfrey Benjamin
March 9th, 2023
The firm said it is advancing to the second phase because of the satisfactory results it got from the first phase of trials.
Brazil to Launch Experimental CBDC to Ensure More Secure & Private Customer Usage
By Tolu Ajiboye
March 7th, 2023
Brazil recently launched the experimental phase of its CBDC project, with plans to see adoption by the end of 2024.
Australia Partners with Payment Giant Mastercard, Others to Test CBDC
By Mayowa Adebajo
March 2nd, 2023
The RBA is set to explore various use cases for its central bank-issued digital currency (CBDC).
Bank of England: Digital Pound Opens Lucrative Opportunities for Businesses
By Darya Rudz
February 28th, 2023
Despite the widespread consultations on the subject, the project is not yet ready.