Chile has announced that it will halt a further move to release its CBDC to carry out more research into the project. According to the central bank in the country, debuting a CBDC takes a great deal, and the country must get it right. In this regard, Chile intends to carry out more intensive research…
The International Monetary Fund, or IMF, has shifted its focus to the Sand Dollar, the Bahamas’ central bank digital currency (CBDC), and has recommended more regulatory control and awareness campaigns. The IMF stated that its executive governors saw the promise of the Sand Dollar to encourage access to finance in a report released on Monday….
The creation of central bank digital currencies (CBDCs) was one of the most notable stories in blockchain and cryptocurrency in 2021, even if CBDCs aren’t always linked to blockchain or decentralized cryptocurrencies. For each new all-time high in Bitcoin (BTC), Ethereum (ETH), or any other digital currency reached in 2021; it appeared that some central…
TL; DR Breakdown Namibia wants to create its CBDC The country wants to challenge crypto with the CBDC BON Governor breaks down CBDC plans The central bank digital currencies era is now upon us, with many countries looking in that direction. This is because most countries know and see the value that a DLT based…
TL; DR Breakdown Sweden completes the second test of its e-krona The digital currency will substitute cash More countries to conduct CBDC tests CBDCs have become a global sensation, with more than 80% of countries worldwide looking into the currency. Sweden has announced that it has finalized the second phase testing of its central bank…
TL;DR Breakdown Jamaica is ready to welcome its CBDC soon. The Bank of Jamaica has tested its CBDC through the National Commercial bank. Bank of Jamaica (BOJ) has completed the Central Bank Digital Currency (CBDC) pilot. At the beginning of last year, BOJ said that it was testing a prototype central bank digital currency. Central…
TL; DR Breakdown PwC report says more than 80% of countries are researching CBDC The report discussed the maturity of the digital currencies Analyst gives an opinion on CBDCs and stablecoins CBDCs are becoming the new financial instrument making waves worldwide as countries continue to join the bandwagon. This is because the countries see it…
TL;DR Breakdown The Swiss National Bank has announced the beginning of testing their CBDC with five banks to determine its interoperability. The CBDC tests aim to determine how the coin will function within private banks and backed by Bank for International Settlements (BIS). The Swiss National Bank has announced the beginning of a test phase…
TL;DR Breakdown Banking giants HSBC and IBM made a breakthrough in delivering a multi-ledger CBDC. The move was above board as it was under the supervision of the Bank of France. HSBC and IBM announced a breakthrough in creating a multi-ledger central bank digital currencies (CBDC) demo. The breakthrough came after a victorious trial of…
TL; DR Breakdown ECB executive suggests the availability of CBDC at offline stores The executive pinpoints demand as an adoption driver ECB will design CBDC to meet specific requirements In the last few years, many countries have been working tirelessly to create their own central bank-backed digital currency. Although most of them have different creation…
TL; DR Breakdown Bank of Ghana outlines the idea behind CBDC creation BOG specifics importance of the digital currency The Central bank wants full financial inclusion Countries across the globe have not hidden their intentions of releasing their respective Central bank digital currencies. Although some are already putting it into use, others are still trying…
TL; DR Breakdown Bank of Canada will partner with MIT on a Canadian CBDC research The research will run for 12 months The US wants to create a CBDC The design and subsequent development of potential CBDCs have been in the works across different countries in the past few years. Although some have crossed the…
