The Reserve Bank of Australia (RBA) seems to be prioritizing the development of a wholesale central bank digital currency (CBDC) over a retail version because of the potential economic benefits and reduced complexity for the nation's financial system. RBA...
Russia's largest bank, Sberbank, will start offering the country's central bank digital currency (CBDC), the digital ruble, to its customers by early 2025. Anatoly Popov, Deputy Chief Executive of Sberbank, reportedly confirmed the bank's involvement, alongside around 20 other...
Google Pay, Walmart-backed PhonePe, and Amazon Pay are among five payment firms seeking to participate in India's central bank digital currency (CBDC) pilot, according to a new report from Reuters. Sources, speaking on condition of anonymity, told Reuters that...
Bahamas is set to publish regulations that will require commercial banks to offer access to its central bank digital currency (CBDC) in a bid to spur increased adoption. According to Reuters, the Bahamas central bank governor, John Rolle, announced...
Starting June 21, Iran's Central Bank Digital Currency (CBDC), the digital rial, will be accessible to banking customers and tourists on Kish Island for domestic micropayments. Kish Island, Iran's second-largest island in the Persian Gulf, will serve as the...
Members of the Republican Party in the U.S. State of Idaho have declared a stance in favour of Bitcoin and against the establishment of Central Bank Digital Currencies (CBDCs). As per a social media post by Niklas Klienworth, policy...
According to a new report by the Bank of International Settlements (BIS), the likelihood of central banks issuing a wholesale CBDC now surpasses the chances of them releasing a retail one. The report, published on June 14, 2024, detailed...
The Bank of Israel has announced an open challenge to develop innovative use cases for its proposed central bank digital currency (CBDC), the digital shekel. This initiative, tagged the "Digital Shekel Challenge," is inspired by the BIS Innovation Center's...
In its 2023 Annual Economic Report, the Bank of International Settlements (BIS) introduced tokenization as the next evolution in digital assets and finance. It also ran the jury on crypto and DeFi, pointing to how both have offered a...
The future of the monetary system, as envisioned by Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), will consist of three crucial elements: central bank digital currencies (CBDCs), tokenized bank liabilities, and regulated stablecoins. Menon...
