Cryptocurrency Analysis and News Portal
Switzerland took another step to clarify the roadmap for integrating central bank digital currencies (CBDC) into the current financial system. The Swiss National Bank (SNB), the country's central bank, completed the second phase of Project Helvetia with its partners by integrating wholesale CBDC into the existing back-office systems and processes of five
Read More
The testing, which took place over three days at the start of December 2021, proved that issuing a wholesale CBDC on a DLT platform operated and owned by a private-sector company (Swiss stock exchange owner SIX, in this case) was both operationally possible and feasible under Swiss law, according to
Read More
The Bank of England, in common with central banks of almost every other major economy across the world, is exploring a potential CBDC as a means of addressing the decline in the use of cash, expediting the implementation of monetary policy and future-proofing fiat currencies from the rise in use
Read More
Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar.In a Wednesday announcement, Emmer said the bill would prohibit the Fed from issuing a central bank digital currency, or
Read More
China’s social media giant, Wechat has said it will support the digital yuan in a move that is expected to increase the of Chinese residents that use the central bank’s digital currency (CBDC). Wechat’s support of the digital yuan potentially avails the digital currency to the social media’s 800 million
Read More
The Bank for International Settlements, the umbrella group for central banks, named an expert in central bank digital currencies (CBDCs) as the head of its innovation center for the euro region.Raphael Auer is currently an economist in the Innovation and the Digital Economy unit of the BIS’ Monetary and Economic
Read More
The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot. Only One Payment Provider Participated in the Pilot The Bank of Jamaica (BOJ) recently revealed that
Read More
The project was initially slated to run two to three years. In September, Boston Fed senior vice president Jim Cunha said the project’s initial stages were “basically done,” but the search for a new director signals that the work is far from over. Original Source
Read More
The rollout will see a continuation of onboarding existing customers and new customers, allowing two additional wallet providers, who are currently conducting testing, to distribute CBDCs to their customers, and the testing of transactions between customers of various participating wallet providers. Original Source
Read MoreChina’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan. The draft law states that the yuan is the official currency of the People's Republic of China
Read More