The outgoing chief executive officer of the credit card behemoth Visa, Alfred Kelly, believes that the company can integrate stablecoins and central bank digital currencies (CBDCs) into its services t...
Tag: CBDCs
Hogan Shares AI-Based Answers On How The XRPL Can Interact With CBDCs
XRP community members wonder how the crypto can work as a bridge currency for CBDCs as the race to find a solution for CBDC interoperability in cross-border payments heats up. Attorney Jeremy Hogan, w...
Visa CEO Says There’s a “Meaningful” Future for Stablecoins and CBDCs
The CEO of the world’s largest credit card company told shareholders on Tuesday that stablecoins and central bank digital currencies (CBDCs) will play a “meaningful role” in the payments space going f...
Visa CEO Predicts Stablecoins and CBDCs to Revolutionize Payment Industry
In September 2021, Visa started working on a blockchain project to facilitate the adoption of CBDC and stablecoins, but very little progress has been made since then. Cryptocurrencies known as stablec...
Central Bank of Saudi Arabia explores CBDCs for local wholesale bank settlements – Cryptopolitan
The Saudi Central Bank (SAMA) has recently announced its ongoing experiment of Central Bank Digital Currencies (CBDCs). Through this project, SAMA aims to better understand the potential uses of domes...
CBDCs Could ‘Revolutionize Global Financial Systems’: Bank of America
At least 114 central banks—representing 58% of all countries, which generate 95% of global GDP—are now exploring central bank digital currencies (CBDCs), up from 35 in May 2020. And a team of cryptocu...
Chinese state company to build SWIFT-like bridge for stablecoins and CBDCs
Red Date Technology, a technical mastermind behind China’s state-backed blockchain-based Service Network (BSN), is coming up with a new initiative. It will bridge stablecoins to central bank digital c...
China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs – Finance Bitcoin News
The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facil...
CBDCs might “revolutionize” the world’s financial systems
Join Our Telegram channel to stay up to date on breaking news coverage From 35 in May 2020, at least 114 central banks—representing 58% of all nations, which also produce 95% of the world’s GDP—are no...
UDPN Aims to Connect State Controlled Stablecoins and CBDCs
A new crypto payments ecosystem for stablecoins and CBDCs called Universal Digital Payments Network (UDPN) debuted at Davos. Some are comparing the project to the antiquated SWIFT network. The differe...
Chinese blockchain firm launches the ‘SWIFT’ of stablecoins and CBDCs at Davos
A Hong Kong-based blockchain company has launched a digital payments system aimed at bridging the gap between stablecoins and Central Bank Digital Currencies (CBDCs). Red Date Technology, the blockcha...
CBDCs Are the Future of Central Bank Money but They Are Still Not Ready – Fintech Bitcoin News
A World Economic Forum (WEF) panel comprised of central bankers and global tech providers has profiled central bank digital currencies (CBDCs) as the future of central bank money, presenting them as o...
Digital Dollar Project alerts on US careful appeal to CBDCs
The digital Dollar Project stated on January 19 that, “The U.S may have initiated to other nations in global siting standards for the future of money” related to the central bank digital currencies, b...
CBDCs need to find a ‘real problem’ to solve, says SARB governor
South African Reserve Bank (SARB) governor Lesetja Kganyago highlighted issues surrounding the introduction of central bank digital currencies (CBDCs) at the World Economic Forum (WEF) 2023, held in D...
SARB governor: CBDCs must tackle a “serious challenge” at WEF 2023.
At the World Economic Forum (WEF) 2023, which was hosted in Davos, Switzerland, South African Reserve Bank (SARB) governor Lesetja Kganyago addressed some of the difficulties that surround the adoptio...
American trend forecaster G. Celente warns of global collapse making CBDCs thrive
Renowned American trend forecaster, Gerald Celente has extended his long-term projection of a global economic collapse, a factor that he predicts will accelerate the shift toward central bank digital ...
Stablecoins And CBDCs Are The Future Of Money, Bank Of America Says
The continuous growth of stablecoins and cryptocurrency worldwide in terms of recognition and usage has caught the attention of the Bank of America. The second largest bank in the country, the bank’s ...
CBDCs permeate China as Yuan used to buy securities for the first time
For the first time, the digital yuan (e-CNY), a token issued by the Bank of China, has been used to purchase securities. The country put the e-CNY into circulation last week. China has advanced furthe...
Bank of America says CBDCs and stablecoins could revolutionize money
As the cryptocurrency sector grows larger, major institutions are starting to pay attention and are increasingly investigating the potential future of digital assets and the possibility of their adopt...
Former Bank of England Advisor States CBDCs Are Not Worth The Risk
Many countries have been on the quest to launch CBDCs. According to data from Crowdsourcingweek, up to 105 countries have shown interest in these central bank digital currencies. Out of these countrie...
CBDCs not worth the costs and risks, says former BoE advisor
Central banks worldwide are pushing forward with digital asset projects despite the various crypto industry implosions of the past 12 months. China has rolled out its central bank digital currency (CB...
CBDCs Could Make Traditional Finance ‘More Attractive’ and Reduce Risk From Crypto, Say Central Bank Economists
Economists at the Bank for International Settlements (BIS) think central bank digital currencies (CBDCs) could “curb the demand” for crypto. In a new bulletin, BIS economists Matteo Aquilina, Jon Fros...
CBDCs are Different from Cryptocurrencies; Says IMF Executive
IMF Executive spoke to Shekhar Gupta and Sharad Raghavan at The Print’s ‘Off The Cuff’ show. He lectured on the necessity of distinguishing between cryptocurrencies and the CBDCs. The role of central ...
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs – Finance Bitcoin News
The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing con...
ECB calls for crypto regulation, expedited CBDCs deployment
European Central Bank (ECB) Executive Board member Fabio Panetta published a post in the ECB blog emphasizing the need for regulations in the crypto industry. “We can’t afford to leave cryptos unregul...
G7 economies move into development stage of CBDCs
As of December 2022, all G7 economies had moved into the development stage of a central bank digital currency, according to the Atlantic Council (AC). The AC found that — despite slow development prog...
Turkey’s Central Bank has more in store for CBDCs in 2023
The Central Bank of the Republic of Turkey indicated that it would release the digital lira by 2023. The CBDC would be connected to several government and centralized operations. The first experimenta...
3 reasons why Bitcoin is better than CBDCs
Bitcoin is a decentralised network that allows anyone to transact with anyone else. CBDCs are issued by a central bank and have controls built into them. Bitcoin offers freedom while CBDCs offer total...
Kazakhstan and the ECB: crypto news for the CBDCs
All the latest crypto news concerning CBDCs: Central Bank Digital Currencies, digital currencies issued by a central bank instead of a commercial bank. Apparently, there are two opposing sides. On on...
Indian central bank governor calls for crypto ban, champions CBDCs
India’s Central Bank Governor Shaktikanta Das said private crypto assets like Bitcoin (BTC) could cause the next financial crisis and should be banned as they carry “huge inherent risk,...
Crypto will be needed as an alternative to CBDCs
With crypto continuing to receive much bad press, central bank digital currencies (CBDCs) are being quietly prepared for roll out. Crypto bad press Crypto has imploded in on itself over the last seve...
The Future of CBDCs
Thus, CBDCs need to provide tangible benefits for users to switch from an already working system. For instance, India’s e-rupee plans to target those who don’t have bank accounts, in contrast to UPI, ...