Latest News on Central bank

Asia

China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain

China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.

Sarah Tran

May 14, 2020

| 2 Min Read

#CHINA #CENTRAL BANK #PBOC #FINANCE #TECHNOLOGY #FINTECH #BLOCKCHAIN #AI #XI JINPING #PRESIDENT XI JINPING

CBDC

McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

Mcdonalds has been named along with coffee giant Starbucks as one of the 19 restaurants that will be first to try out China’s Digital Yuan in the new district of Xiong’An.

Lucas Cacioli

Apr 24, 2020

| 2 Min Read

#CHINA #CENTRAL BANK #DIGITAL YUAN #MCDONALDS #SUBWAY #STARBUCKS #DCEP #PILOT #CBDC #HEIBEI

CBDC:Europe

Dutch Central Bank Aims to Play Leading Role in Developing CBDC in Europe as Part of Plan to Become Increasingly Digital

The Dutch central bank, De Nederlandsche Bank made an announcement in its bulletin, saying that it aims to become the world leader in the development of central bank digital currencies (CBDCs). The report highlighted that the topic of CBDC has gained more public exposure in the Netherlands than in “several other euro area countries for several reasons.”

Sarah Tran

Apr 22, 2020

| 2 Min Read

#DUTCH CENTRAL BANK #DE NEDERLANDSCHE BANK #NETHERLANDS #HOLLAND #CBDC #DIGITAL EURO #CENTRAL BANK #ECB

CBDC:Americas

Argentina’s Central Bank Set to Prove Non-Crypto Use Cases of Blockchain Technology with its New Clearing System

The Central Bank of Argentina (BCRA) is now looking to test a blockchain-based clearing system to be used by the country’s major financial institutions. The aim of the blockchain clearing system is to provide efficiencies for fiat payments and enable them to be more reliable and to provide end-to-end traceability.

Sarah Tran

Apr 21, 2020

| 2 Min Read

#ARGENTINA #BCRA #BBVA #SANTANDER #CENTRAL BANK #CBDC #TECHNOLOGY #BLOCKCHAIN

CBDC

China's Central Bank Says Digital Yuan Will Not Raise Inflation

Bank of China claims that the introduction of digital yuan will not cause the occurrence of inflation.

Nicholas Otieno

Apr 21, 2020

| 3 Min Read

#CHINA #CENTRAL BANK #DIGITAL YUAN #INFLATION #DCEP #PILOT #CBDC

CBDC

China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank

China’s central bank has further galvanised its public commitment to creating the first central bank digital currency (CBDC), a digital version of the Yuan, at an annual meeting hosted last Friday by the People’s Bank of China (PBoC) vice governor Yifei Fan.

Lucas Cacioli

Apr 07, 2020

| 3 Min Read

#BLOCKCHAIN #DCEP #PBOC #COVID19 #DIGITAL YUAN #CHINA #CENTRAL BANK #CBDC #CASHLESS

CBDC

South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity

South Korea’s central bank recently announced that it has launched a pilot program assessing the issuance of a central bank digital currency (CBDC). The Bank of Korea has stated that there are no immediate plans to launch a CBDC, however, the pilot program will allow the central bank to be prepared in the future if the changing market conditions require its issuance.

Sarah Tran

Apr 06, 2020

| 2 Min Read

#CBDC #SOUTH KOREA #PILOT PROGRAM #CENTRAL BANK #BANK OF KOREA

CBDC

Bank of France Tests Out Potential Central Bank Digital Currency by Launching Experiment Program

The Bank of France (Banque de France) is launching a program of experiments testing out a potential central bank digital currency (CBDC) aimed for interbank settlements. Potential participants are being invited to submit their applications, as the Bank of France is calling for applications to experiment with the use of a digital euro.

Sarah Tran

Mar 31, 2020

| 2 Min Read

#BANK OF FRANCE #BANQUE DE FRANCE #CBDC #EXPERIMENT #CENTRAL BANK

CBDC

IMF Official Talks Benefits and Shortcomings of CBDCs, Proposes a Hybrid Solution

Tao Zhang, deputy managing director of the International Monetary Fund (IMF), acknowledges the tremendous promise that CBDCs hold and challenges lying ahead.

Nicholas Otieno

Mar 23, 2020

| 3 Min Read

#IMF #TAO ZHANG #CBDC #CENTRAL BANK #DIGITAL CURRENCY

Regulation

Russia’s Central Bank Will Ban Crypto Issuance and Trading in Upcoming “Digital Financial Assets” Bill

Alexey Guznov, head of the legal department at Bank of Russia, says that the new version of the delayed bill on “Digital Financial Assets” will include a ban on issuance and selling of cryptos in the country.

Nicholas Otieno

Mar 17, 2020

| 2 Min Read

#CRYPTOCURRENCY #TRADING #RUSSIA #CENTRAL BANK #DIGITAL ASSETS #LAW #BAN #BITCOIN NEWS