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The National Bank of Georgia (NGB) is developing the digital GEL and is searching for a suitable partner. NGB plans to launch a Limited Access Live Pilot Environment through various use cases to test the technology capabilities and potential application areas of the Central Bank Digital Currency (CBDC) system. After extensive research, NGB has
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The National Bank of Georgia (NBG) has announced that it will advance its research on a digital lari central bank digital currency (CBDC) in a limited-access live pilot environment. Nine companies, including Ripple Labs, will take part in the project, and one of them will be selected to move forward
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The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed Project Mariana. Project Mariana focused on the cross-border trading and settlement of CBDC between financial institutions by applying the decentralized finance (defi) technology. The initiative was developed by three financial innovation hub centers (the Swiss,
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As part of Project Marina, the three banks have collaborated with the Bank of International Settlements (BIS), for conducting CBDC cross-border settlements. The central banks of France, Switzerland, and Singapore collaborated with the Bank of International Settlements (BIS) to conduct a joint test for cross-border payments with central bank digital
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Project Mariana's proof of concept used a hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The project relied on "a common token standard on a public blockchain which facilitates interoperability and seamless exchange of wCBDC across varied local payment and settlement systems maintained by participant central
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Countries need clear legal frameworks to implement central bank digital currencies (CBDCs), according to the head of the Bank for International Settlements (BIS) during a recent conference in Basel. The event focused on updating laws for the digital currency technology. In a speech held on Sept. 27, later published on their
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Legal frameworks that ensure that user privacy and the freedom to choose between central bank digital currencies and other forms of money will be key in driving CDBC adoption, according to the head of the Bank of International Settlements.Speaking at the BIS Innovation Hub conference in Switzerland on Sept. 27,
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mBridge stands out as the sole international CBDC project in which China has participated. Currently, all participating central banks have CBDCs in the pilot project phase. The Hong Kong Monetary Authority (HKMA) CEO Eddie Yue has revealed plans for significant expansion of the mBridge project, which involves the central bank digital
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Project mBridge may soon see significant expansion, according to Hong Kong Monetary Authority (HKMA) CEO Eddie Yue. He outlined the plans for the central bank digital currency (CBDC) project in a speech in Shanghai.Yue said tests have shown mBridge to provide faster, cheaper, more transparent cross-border payments. The project was
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If “we can address all the conspiracy theories that abound about this – as if Big Brother was going to suddenly determine what you buy, when you buy it and how restricted it should be – then I think it would be characterized as a success,” Lagarde said, adding that
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