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,...
Russia's Central Bank has announced that the anticipated pilot testing program for its central bank digital currency (CBDC), known as the digital ruble, is set to kick off on August 15, 2023. According to the Bank, this testing phase...
Brazil's central Bank, Banco Central do Brasil (BCB), announced on August 7, 2023, that their digital currency (CBDC) will now be called "Drex" instead of "Real Digital." According to the Central Bank’s official statement, the name "Drex" is an...
South Korean private banks, Hana Bank and Woori Bank, are reportedly exploring the possibilities offered by tokenized deposit technology as a viable alternative to both private stablecoins and Central Bank Digital Currencies (CBDCs). Both banks are actively studying the...
Republican Congressman Warren Davidson has joined a growing number of U.S. politicians to advocate against the creation of central bank digital currencies (CBDCs). He urged Congress to pass legislation that would not only prevent the issuance of CBDCs but...
During a conference in Singapore on July 19, 2023, Yi Gang, the governor of the People's Bank of China, revealed that the Chinese central bank digital currency (CBDC) had facilitated transactions amounting to 1.8 trillion yuan, equivalent to over...
The Central Bank of Iran (CBI) has completed the pre-pilot phase of its CBDC development, according to an official statement from the Monetary and Banking Research Institute, the research arm of the CBI. Mohammad Reza Mani Yekta, head of...
