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...
The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed a collaborative experimental test focused on cross-border trading and settlement involving wholesale central bank digital currencies (CBDCs). According to a report published...
The National Bank of Kazakhstan (NBK) has unveiled plans to establish a dedicated agency to develop and implement the country's central bank digital currency (CBDC), the digital tenge. In an official statement released on September 15, the NBK announced...
The Bank for International Settlements (BIS) Innovation Hub, the Bank of Israel (BoI), and the Hong Kong Monetary Authority (HKMA) have released a comprehensive report detailing the outcomes of their joint central bank digital currency (CBDC) experiment, known as...
Anatoly Aksakov, a Russian lawmaker and chair of the Parliament's financial committee, has predicted that blockchain technology and the adoption of Russia's Central Bank Digital Currency (CBDC), known as the Digital Ruble, would lead to a gradual decline in...
The State Bank of India (SBI) has added support for the Unified Payment Interface to its Central Bank Digital Currency (CBDC) app, 'eRupee by SBI'. The integration will allow the app users to conduct swift and secure transactions by...
As central banks worldwide intensify efforts to explore the benefits and issue a central bank digital coin (CBDC) in respective countries, the Reserve Bank of Australia (RBA) has declared that the nation is not yet prepared to issue its...
Mastercard has announced a new project that brings together top blockchain technology and payment service providers to explore the potential benefits and challenges of central bank digital currencies (CBDCs) and how to implement them safely and effectively. In its...
The Canadian Central Bank has indicated that the prospects for widespread adoption of a central bank digital currency (CBDC) in daily transactions are currently limited because of the country' mature payment ecosystem. In a Staff Discussion Paper released on...
The Reserve Bank of Zimbabwe (RBZ) has announced that it is finalizing its plans to introduce Gold-Backed Digital Tokens for everyday transactions. In his presentation of the Mid-Term Monetary Policy Statement (MPS) on August 9, 2023, John Panonesta Mangudya,...
