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Japanese blockchain startup Soramitsu is exploring new central bank digital currency (CBDC) applications with a new project on the cross-border payment system for Asian countries.Soramitsu will deploy Cambodia's CBDC and fiat-pegged stablecoins as part of its new payment system targeting countries like India, China, Japan and regions like Southeast Asia.The
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Brazil’s Central Bank revealed the official name of the new central bank digital currency (CBDC), also known as the digital real, DREX. The name was revealed during a live broadcast on the bank’s YouTube channel, hosted by
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The Brazilian central bank digital currency (CBDC), previously commonly referred to as the “digital real,” has been given its official brand name: the Drex. On Aug. 7, the Central Bank of Brazil issued a press release revealing and explaining the new brand for its CBDC. Developed by the central bank, the
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The next president of the United States is likely to be in favor of central bank digital currency (CBDC), crypto asset manager Grayscale observed in a post on its website, as the current frontrunners in both political parties have expressed their support for it. Neither seems to like Bitcoin.Joe Biden
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The Digital Dollar Project (DDP) announced the completion of a pilot study of remittance payments to the Philippines using a simulated retail central bank digital currency (rCBDC). Western Union and BDO Unibank were partners in the project.The project used a version of the DDP’s Champion Model. In it, a simulated
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Breeden, who was on the BoE's Central Bank Digital Currency task force, will officially take over Cunliffes role on Nov. 1, 2023, where she will sit on the financial policy, monetary policy and the prudential regulation committees and "play a key role in providing a link between financial stability and
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Jeju, Busan and Incheon are in the running to be considered. Source
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The Bank of Korea has narrowed down three regions for the piloting of its central bank digital currency (CBDC), which does not include the country’s capital Seoul, according to a report from a local South Korean media outlet. On July 31, it was confirmed that the Bank of Korea has chosen
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Top Stories This Week Crypto bills pass congressional committee in ‘huge win’ for US crypto A key United States House panel has approved a pair of bills that could finally deliver some regulatory clarity to crypto firms in the country.
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Preliminary outcomes from countries where central bank digital currencies (CBDCs) have been introduced show mixed results. Despite widespread exploration and a handful of launched projects, CBDCs are yet to achieve global adoption. According to an Atlantic Council report, 130 countries and currency unions are exploring CBDCs, with 11 nations having launched
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