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The Federal Reserve continues to pilot a central bank digital currency, but will not issue one without executive branch and Congressional support, the report said. Source
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Switzerland’s central bank, the Swiss National Bank (SNB), has announced a pilot program for a central bank digital currency (CBDC) in collaboration with six commercial banks. The pilot is set to run from December 2023 to June 2024. According to a press release on Thursday, Nov. 3, the SNB will launch the so-called
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Chinese official reveals details of its blockchain system for Currency Bridge, enabling atomic and cross-border payments with simultaneous forex settlement. During a key session at the FinTech Symposium in Hong Kong’s Science and Technology Week, the lead of the Digital Currency Institute of the People’s Bank of China Mu Changchun detailed
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The Swiss National Bank (SNB), six commercial banks and the SIX Swiss Exchange will work together to pilot the issuance of wholesale central bank digital currencies (CBDCs) in the nation, officially known as the Swiss franc wCBDC.The pilot project dedicated to wholesale CBDC, named Helvetia Phase III, will test the
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The e-HKD program has taken a three-rail approach for the potential implementation of the virtual currency: foundation layer development, industry pilots and iterative enhancements, and full launch. Hong Kong’s central bank digital currency (CBDC) pilot is set to advance to its second phase following the successful completion of phase one. The
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The initial phase of Hong Kong’s central bank digital currency (CBDC) pilot has concluded, showcasing potential advancements in digital finance, though leaving uncertainties regarding its full implementation and technological direction. Hong Kong has finished the first part of its trial for a CBDC. At this point, it is still not clear
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Cunliffe said there had been general support for the CBDC's overall model, but that the central bank will refine estimates of take-up and holding limits. It previously proposed that individuals wouldn't be able to hold more than 10,000 ($12,000) to 20,000 pounds of the CBDC, at least during an introductory
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The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19. The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal
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