The BIS report based on a multi-CBDC pilot also showed significant improvements in international remittance speed.
The year 2020 may well go down as the year when blockchain technology and cryptocurrencies, in particular, gained mainstream recognition. The restrictions on movement, as well as the widespread fear of catching a virus, forced many to look for alternative ways of making payments or sending remittances. This search for an alternative inevitably led many […]
At a November 2020 virtual conference, Rob Kaplan said “it is critical that the Fed focuses on developing a digital currency in the coming months and years.”
If the United States is still not ready for central bank digital currency, it will stay on the sidelines of tech and financial innovations.
The Central Bank of Bhutan, the Royal Monetary Authority (RMA), has partnered with Ripple to start testing a model of its central bank digital currency (CBDC) using Ripple’s technology. The test will be using Ripple’s own CBDC private ledger, to support similar use cases. The pilot test will include retail, cross-border and wholesale payments for […]
Nexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam. […]
Federal Reserve Chairman Jerome Powell has shared the progress of the Fed’s work on a central bank digital currency (CBDC), the digital dollar. “We are working proactively to evaluate whether to issue a CBDC and, if so, in what form,” he said, adding that he does not believe the U.S. has fallen behind other countries […]
Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan.
Fed Chair Jerome Powell says there is no pressure to rush any central bank digital currency development plans.
The decentralized, economically empowering technology could bring major benefits to the country.