Nigeria’s Central Bank Digital Currency (CBDC) e-Naira is failing because of low adoption rates while the government is trying to drive adoption higher, Bloomberg News reported. The E-Naira was launch...
Tag: CBDC
Boston Fed partners with MIT to launch an open-source CBDC project
Federal Reserve Bank of Boston joins a list of banks experimenting with CBDCs, launching its Project Hamilton together with the Massachusetts Institute of Technology. MIT and the Federal Reserve Bank ...
RBI Executive Director Backs Digital Rupee as India Pushes For CBDC
Altcoin News Choudhary argues that the pressing strategic requirement may be met with digital money. CBDC would give people what they wanted while protecting consumers as per the exec. At a session ti...
How crypto could be good for CBDC and vice versa: Industry exec explains
Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with central bank digital currencies (CBDCs), according to one industry executive. While crypto is ofte...
Central African Republic delays CBDC, cites unfavorable “market conditions”
According to a Reuters report, the Central African Republic (CAR) has publicly delayed its central bank digital currency (CBDC) due to adverse “market conditions.” The delay comes as the crypto indus...
Kazakhstan Plans Phased Rollout of CBDC between 2023-25
The Central Bank of Kazakhstan announced that it will work on deploying its in-house central bank digital currency (CBDC) available as early as 2023 and will expand on the project until the end of 202...
Inside Nigeria’s Ambitious Push of Cashless Society, eNaira CBDC
Nigeria’s push to adopt digital currency and move towards a cashless society shifted into high gear on December 6, when the country’s central bank announced a cap on cash withdrawals, either over the ...
Kazakhstan to Press on With CBDC Development till 2025
The bank said it has completed some phases of the trial, including refinement of the prototype and introduction for a limited number of participants. For the next two years, the country “will de...
Kazakhstan’s central bank to begin CBDC rollout from 2023 to 2025
The Kazakhstan Central bank have succeeded in the second phase of testing its Central Bank Digital Currency (CBDC) compatibility and functionality with the country’s economy, and are set to begin roll...
Kazakhstan central bank suggests a two years stepwise CBDC launch
The National Bank of Kazakhstan, which serves as Kazakhstan’s central bank, has suggested that the in-house CBDC be made accessible as early as 2023, with a progressive development of functionality an...
Central Bank of Kazakhstan Completes Second Phase CBDC Trial
8 seconds ago | 2 mins read Altcoin News A prototype was created between July and December of 2021. January 2023, the rollout of the digital national currency will proceed in the final phase. Official...
Kazakhstan central bank recommends a phased CBDC rollout between 2023-25
Kazakhstan, the world’s third-largest Bitcoin (BTC) mining hub after the United States and China, found feasibility in launching its in-house central bank digital currency (CBDC), a digital tenge. The...
Sweden Central Bank preparing for e-krona CBDC
Sweden’s central bank, Riksbank, is preparing to introduce a possible central bank digital currency (CBDC) — the e-krona — according to a Dec. 15 statement. Riksbank said that it is “ready to be able ...
Zero-knowledge proofs could solve CBDC privacy concerns, research shows
Deploying zero-knowledge proof cryptography could allow for “trustless privacy” in a central bank digital currency (CBDC), according to new research, addressing a major area of concern for...
The Federal Reserve Should Drop FedNow And Any Plans To Launch A CBDC
BRAZIL – 2022/11/02: In this photo illustration, the FedNow Service logo is displayed on a … [+] smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty...
The Central Bank of Brazil is planning to launch a CBDC in this year
Nations around the globe are scrambling to explore how blockchain technology can be employed to help their economies. The growing adoption of cryptocurrencies has prompted several central banks to loo...
Bank Of England Working On CBDC: Doubts Remain
The global monetary system has rapidly evolved upon the impact of digitalization and the industrial revolution. A UK CBDC is likely coming soon. Governments worldwide, despite initial struggles, start...
Brazil central bank launching CBDC in 2024
The central bank of Brazil, through its president, Roberto Campos Neto on Tuesday revealed that they will launch a central bank-backed digital currency (CBDC) by 2024. Accordingly, they will launch a ...
Revealed: Brazil’s central banks CBDC launch plan 2024
The crypto market has been down for almost a year now, but in this downtrend market, there always comes news that ensures the future potential of this digital market. One such news was revealed at a c...
Why Hong Kong Is Pushing for Its Own CBDC – Crypto 2023
To safeguard U.S. leadership in the global financial order, the U.S. government should be monitoring CBDC developments, and proactively shape the agenda of the meetings taking place in the nine intern...
Brazil could cement its status as an economic leader thanks to 2024 CBDC move
As of 2022, more than 30 million Brazillian citizens have no bank accounts, and no credit or debit cards. What’s wrong here? For roughly a decade, Brazil has been passing legislation aimed at changing...
Spain’s Central Bank to Experiment with Wholesale CBDC
The Central Bank of Spain announced plans to launch its own experimental program for a wholesale CBDC. The Bank of Spain is looking to collaborate with organizations that are interested in participati...
Bank of England Seeks Proof of Concept Wallet For CBDC
51 mins ago | 2 mins read Altcoin News The Bank of England (BOE) advertised a call for proposals on the Digital Marketplace. The proof-of-concept was given a budget of £244,500 (around $244,500). Proo...
Bank Of England Accepts CBDC Wallet “Proof Of Concept” Applications
The bank stipulates that the wallet must be capable of performing fundamental functions such as exchanging currency and requesting payments, and has fixed its price at close to $255,000. The Bank of E...
Bank of England opens applications for ‘proof of concept’ CBDC wallet
The Bank of England (BOE) is seeking a “proof of concept” for a wallet that will be able to hold a Central Bank Digital Currency (CBDC). On Dec. 9, the BOE posted a request for applications on the Uni...
UK is Reforming Financial Services, Consulting Proposal for CBDC
According to the Bloomberg report, the Bank of England will bring forward a consultation on the case for a Central Bank Digital Currency (CBDC) “in the coming weeks,” Chancellor of the Exchequer Jerem...
Bank of England invites CBDC proof-of-concept proposals
The Bank of England is accepting applications for a proof of concept wallet for its Central Bank digital currency until December 23. To make the CBDC product “more concrete for external and internal s...
RBI Deputy Governor touts CBDC
The Deputy Governor of the Reserve Bank of India says a CBDC can be anonymous and that any crypto data is misleading. The ongoing debate between the use of cryptocurrencies and central bank digital cu...
Bank of England opens bids for CBDC sample wallet proof of concept
The Bank of England is seeking a proof of concept for a sample wallet for a Central Bank digital currency and will take applications through Dec. 23. While the bank said it will not develop a us...
RBA Concerns Over Impact on Banks After Aussie CBDC Rollout
Australian CBDC will be used for e-commerce and government bills. The concept of CBDC became popular after the increased user base of cryptocurrencies. Some countries have already launched their CBDCs...
Australian CBDC receives unexpected interest but could hurt banks: RBA
A central bank digital currency (CBDC) pilot program in Australia has received more than 140 use case proposals from the finance industry. Still, the Reserve Bank of Australia (RBA) warns that it coul...
Most Central banks are Looking to Issue a CBDC Within 10 Years: OMFIF
However, CBDCs are not without their risks and challenges. They could expose economies to “greater systematic financial risk brought on by volatility and sudden foreign exchange fluctuations,...