Search Results for "digital currency"
What is CBDC?
CBDC stands for Central Bank Digital Currency, and represents the digital form of a nation’s fiat money (currency backed by trust or faith in the regulating government).
Saudi Digital Riyal Pilot: SAMA Tests "Oil-Linked" CBDC on mBridge for Cross-Border Settlements
Saudi Arabia's Central Bank (SAMA) is pilot-testing a wholesale CBDC, potentially enabling oil sales to China in digital currencies. This project aims to modernize payments and reduce reliance on U.S. dollars, aligning with Vision 2030 goals. While risks exist, such as liquidity issues and regulatory challenges, successful pilots could establish a payments system linked to the nation’s oil resources.
Turkey Names Blockchain Expert to Central Bank Committee
Turkey's central bank embraces blockchain with the appointment of crypto expert Prof. Fatma Ozkul to its monetary policy committee.
China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development
China’s Central Bank, People’s Bank of China (PBoC) is planning to look into building a digital central bank infrastructure to improve the standards of financial services in the country. On May 18, the Chinese Central Bank’s 2020 video conference on scientific and technological work was held in its capital, Beijing. The meeting focused on the technological achievements made in 2019, an in-depth analysis of the current situation and challenges, and the upcoming key plans for 2020.
G7 Set to Release the Guidelines for the Creation of CBDCs
The Group of Seven (G7) industrialized nations are looking forward to accepting the proposals of a draft which seeks to enshrine some set of standards in the creation and issuance of CBDCs.
Chinese CBDC's Backend Developments are Complete, Revealed During 2020 FinTech Forum
The world’s attention is on China who has recorded a great advancement in the development of its central bank digital currency (CBDC). The Chinese CBDC project, also known as digital currency electronic payment (DCEP) entered its testing phase back in April with a test run billed for four major cities.
StanChart CEO Bill Winters: Mass Adoption of Digital Currencies is "Absolutely Inevitable"
Standard Chartered CEO Bill Winters delved into the issue of digital currencies and said that he believes their widespread creation and rollout was absolutely inevitable.
Washington Developer Harbor Custom Development to Accept Payments in Crypto
Real estate investors in Washington will have more options by paying cryptocurrencies, as the Washington-based Harbor Custom Development Inc is launching the service by the end of January.
Bank of Korea Prepares for 2024 Public Trial of Its Central Bank Digital Currency
The Bank of Korea, South Korea's central bank, is setting the stage for its first public trial of a Central Bank Digital Currency (CBDC) in 2024.
Bank of Lithuania Has Commenced the Issuance of its LBCOINS to the Public
Following the launch of its digital collectibles dubbed “LBCOINS,” the Bank of Lithuania has announced that it has commenced the issuance of the LBCOINS to the members of the public. The issuance of LBCOINS is a landmark step in the worldwide drive towards achieving a financial era dominated central bank digital currencies (CBDC).
Swiss Central Bank Announces its Central Bank Digital Currency Trial a Success
The digital franc trial entailed settling large scale transactions between financial institutions through an experiment dubbed Project Helvetia.
EU Imposes 8th Wave Sanctions over Russia to Include Blanket Crypto Ban
The European Union (EU) has updated its sanction on Russia, the 8th package, and this time, it unveils zero tolerance for crypto-related transactions.
