India and UAE To Collaborate on CBDC Development
India and the United Arab Emirates (UAE) will collaborate on central bank digital currencies (CBDCs) by jointly conducting at least one pilot. Source
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CBDC
SWIFT To Move to Phase Two in its CBDC Tests
The firm said it is advancing to the second phase because of the satisfactory results it got from the first phase of trials. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced the advancement of its Central Bank Digital Currency (CBDC) and is set to move on to a second
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SWIFT moves to next phase of CBDC testing after positive results
According to a statement on Mar. 9, bank messaging platform Society for Worldwide Interbank Financial Telecommunications, or SWIFT, disclosed that the financial institution witnessed positive results related to its pilot test of linking different central bank digital currencies (CBDCs).During a 12-week testing period, SWIFT simulated nearly 5,000 transactions between two
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SWIFT to Start Phase Two Pilot After Finding 'Value' in CBDC
The banking network will now look at applications like securities settlement and trade finance Original Source
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BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model – Bitcoin News
The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the technical feasibility of conducting cross-border – cross-currency transactions between
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Stablecoins have plentiful machine-payment use cases in absence of euro CBDC: Report
Europe could lead the world in developing the Internet of Things (IoT) by harnessing the potential of stablecoins, the Digital Euro Association argues in a new report. Machine-to-machine (M2M) payment is a field poised for growth, and stablecoins, in particular, offer advantages for it, the report says.There are growing use cases
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Nigerians’ Rejection of Their CBDC Is a Cautionary Tale for Other Countries
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BIS wraps exploration project on retail CBDC payment system
The Bank for International Settlements, or BIS, has reported it has concluded a project exploring international retail and remittance payments use cases for central bank digital currencies, or CBDCs, with the central banks of Israel, Norway and Sweden.In a March 6 report, the BIS said it had finished Project Icebreaker,
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BIS Says 'Hub and Spoke' Cross-Border Transfers Offer Benefits for Retail CBDC
The model explored in Project Icebreaker would offer retail users the best foreign-exchange rates and faster transactions while allowing central banks to keep almost total control of their currencies. Source
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Reserve Bank of Australia Unveils Proposed CBDC Use Cases – Featured Bitcoin News
The Reserve Bank of Australia said on March 3 that it has selected 14 digital currency proposed use cases from a large number of submissions obtained from industry participants. An assistant governor at the RBA, Brad Jones, said the Aussie central bank is encouraged by the composition of providers that
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