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CBDC News: Central Bank of Nigeria’s CBDC to take off on 1st October

The Central Bank of Nigeria (CBN) presented its Central Bank Digital Currency (CBDC) initiative to stakeholders on Thursday and revealed the launch of the pilot project of CBN’s Central Bank Digital Currency (CBDC) to be on 1st October. The CBDC project, also known as ‘GIANT’, will be operating on the hyper-ledger fabric blockchain, i.e., an

The Central Bank of Nigeria (CBN) presented its Central Bank Digital Currency (CBDC) initiative to stakeholders on Thursday and revealed the launch of the pilot project of CBN’s Central Bank Digital Currency (CBDC) to be on 1st October. The CBDC project, also known as ‘GIANT’, will be operating on the hyper-ledger fabric blockchain, i.e., an

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Indian Central Bank to issue CBDC in phases: Deputy Governor

Reserve Bank of India (RBI), the Indian central bank is planning a phased roll-out of the central bank-issued digital currencies (CBDC), revealed RBI deputy governor T Rabi Sankar. The phased roll-out plan has been discussed keeping the changes required in the nation’s foreign exchange rules and information-technology laws. “Like other central banks, RBI has also been

Reserve Bank of India (RBI), the Indian central bank is planning a phased roll-out of the central bank-issued digital currencies (CBDC), revealed RBI deputy governor T Rabi Sankar. The phased roll-out plan has been discussed keeping the changes required in the nation’s foreign exchange rules and information-technology laws. “Like other central banks, RBI has also been

Regulation News
Regulation News

Federal Reserve’s Chairman is uncertain on CBDCs

Jerome Powell, the Federal Reserve Chairman has publicly admitted that he is unsure of the Fed issuing its own Central Bank Digital Currency (CBDC). However, he asked for approval from the US government, before the Federal Reserve takes any further actions towards the creation of CBDCs. “I am legitimately undecided on whether the benefits outweigh

Jerome Powell, the Federal Reserve Chairman has publicly admitted that he is unsure of the Fed issuing its own Central Bank Digital Currency (CBDC). However, he asked for approval from the US government, before the Federal Reserve takes any further actions towards the creation of CBDCs. “I am legitimately undecided on whether the benefits outweigh

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Breaking: Chinese Central Bank Releases White Paper For Digital Yuan (e-CNY)

People’s Bank of China (PBOC), the Chinese central bank today released the white paper for its upcoming digital CNY (DCEP). The central bank also gave an official English name to the digital fiat called e-CNY. China has been at the forefront of CBDC development, having started research and development for the same as early as

People’s Bank of China (PBOC), the Chinese central bank today released the white paper for its upcoming digital CNY (DCEP). The central bank also gave an official English name to the digital fiat called e-CNY. China has been at the forefront of CBDC development, having started research and development for the same as early as

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Just-In: UAE Central Bank Sets CBDC Strategy Deadline

UAE Central Bank (UAECB) has announced its strategic objectives for 2023-2026, with their new and enhanced Digital Strategy that would include the much-awaited and grand launch of Central Bank Digital Currency (CBDC). UAE Central Bank has been discussing its interest in CBDC for a while now, and the 2023-2026 Strategy has provided a definite timeline

UAE Central Bank (UAECB) has announced its strategic objectives for 2023-2026, with their new and enhanced Digital Strategy that would include the much-awaited and grand launch of Central Bank Digital Currency (CBDC). UAE Central Bank has been discussing its interest in CBDC for a while now, and the 2023-2026 Strategy has provided a definite timeline

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Japan to Finalize Digital Yen Plans by 2022

Japan will have more clarity on its CBDC product digital Yen, by the end of next year. According to a lawmaker who is overseeing the ruling party’s digital currency plan, the CBDC development may potentially be the beginning of a turf war between traditional lenders and online platform operators. Bank of Japan will be moving

Japan will have more clarity on its CBDC product digital Yen, by the end of next year. According to a lawmaker who is overseeing the ruling party’s digital currency plan, the CBDC development may potentially be the beginning of a turf war between traditional lenders and online platform operators. Bank of Japan will be moving

Altcoin News
Altcoin News

Just-In: Israeli Central Bank to Use Ethereum Tech For its CBDC Pilot

Bank of Israel, the Israeli Central Bank today announced they would use Ethereum blockchain technology for its CBDC pilot program, as reported by Bloomberg. The first trial for digital Shekel will be an internal pilot run as per the country’s financial daily Globes. The deputy governor of the Israeli central bank Andrew Abir said that

Bank of Israel, the Israeli Central Bank today announced they would use Ethereum blockchain technology for its CBDC pilot program, as reported by Bloomberg. The first trial for digital Shekel will be an internal pilot run as per the country’s financial daily Globes. The deputy governor of the Israeli central bank Andrew Abir said that

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Central Bank of Nigeria (CBN) Plans For a CBDC Launch By the End of 2021

On Thursday, June 10, the Central Bank of Nigeria (CBN) announced that it preparing for the launch of the central bank digital currency (CBDC) aka Digital Naira and that should happen before the end of 2021. Rukayat Mohammed, the Director of Information Technology (IT) for the CBN made this disclosure yesterday in a virtual briefing

On Thursday, June 10, the Central Bank of Nigeria (CBN) announced that it preparing for the launch of the central bank digital currency (CBDC) aka Digital Naira and that should happen before the end of 2021. Rukayat Mohammed, the Director of Information Technology (IT) for the CBN made this disclosure yesterday in a virtual briefing

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Breaking: France and Switzerland Launch Cross-Border CBDC Trials

The central banks of France and Switzerland have joined hands to launch the cross-border commercial trials for CBDC. Both central banks have partnered with several commercial banks including UBS Group AG, Credit Suisse Group AG, Accenture Plc, and Natixis SA to test the central bank digital currencies. The collaborative effort was launched under the innovation

The central banks of France and Switzerland have joined hands to launch the cross-border commercial trials for CBDC. Both central banks have partnered with several commercial banks including UBS Group AG, Credit Suisse Group AG, Accenture Plc, and Natixis SA to test the central bank digital currencies. The collaborative effort was launched under the innovation

crypto tether china
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crypto tether china
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Why G7 Nations Are Raising Strong Concerns for China’s New Digital Yuan Plan?

Finance Ministers of the G7 economies have kicked off the 2-day meeting in London on Friday, June 4. This is the first face-to-face meeting after the G20 meeting in February 2020 n Saudi Arabia. The top things on agenda have been deciding the rules for the working of digital currencies issued by central banks and

Finance Ministers of the G7 economies have kicked off the 2-day meeting in London on Friday, June 4. This is the first face-to-face meeting after the G20 meeting in February 2020 n Saudi Arabia. The top things on agenda have been deciding the rules for the working of digital currencies issued by central banks and

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China Plans A $6.2 Billion Digital Currency Lottery for Beijing Residents

After testing its Digital Renminbi use in some of the small cities, China is now planning a big CBDC giveaway for Beijing residents. The Chinese government has planned a 40 million renminbi ($6.2 million) lottery giveaway in form of digital currency. China has been conducting such programs for a while as it goes on to

After testing its Digital Renminbi use in some of the small cities, China is now planning a big CBDC giveaway for Beijing residents. The Chinese government has planned a 40 million renminbi ($6.2 million) lottery giveaway in form of digital currency. China has been conducting such programs for a while as it goes on to

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Fed Governor Lael Brainard Thinks Digital Dollar Can Bring Several Benefits

On Monday, May 24, Federal Reserve Governor Lael Brainard backed the idea of a central bank digital currency (CBDC) and stated that it could bring along a variety of benefits. The Fed Governor also added that having a Digital Dollar will help to reach out to the “underbanked” people in America. Besides, it will improve

On Monday, May 24, Federal Reserve Governor Lael Brainard backed the idea of a central bank digital currency (CBDC) and stated that it could bring along a variety of benefits. The Fed Governor also added that having a Digital Dollar will help to reach out to the “underbanked” people in America. Besides, it will improve

Norwegian Central Bank
Regulation News
Norwegian Central Bank
Regulation News

Norwegian Central Bank to Begin Testing the Technical Solution for its CBDC

The Norwegian Central Bank, Norges Bank, is yielding to the recommendations of an internal working group, to proceed with the testing of a technical solution for the proposed Central Bank Digital Currency (CBDC) for the country. According to the bank’s official announcement, the launch of the technical solution testing for the CBDC became imperative as

The Norwegian Central Bank, Norges Bank, is yielding to the recommendations of an internal working group, to proceed with the testing of a technical solution for the proposed Central Bank Digital Currency (CBDC) for the country. According to the bank’s official announcement, the launch of the technical solution testing for the CBDC became imperative as

PBOC
Bitcoin News
PBOC
Bitcoin News

Bitcoin Price Surge Behind Rising Interest in Digital Yuan: PBOC

People Bank of China, the Chinese Central Bank believes the rising price of bitcoin has contributed to the growing interest in Chinese sovereign CBDC called digital yuan. The statement took many by surprise partly because cryptocurrencies are banned in China for almost 4 years now. Wang Xin, PBOC research bureau director, “On one hand, this

People Bank of China, the Chinese Central Bank believes the rising price of bitcoin has contributed to the growing interest in Chinese sovereign CBDC called digital yuan. The statement took many by surprise partly because cryptocurrencies are banned in China for almost 4 years now. Wang Xin, PBOC research bureau director, “On one hand, this

Altcoin News
Altcoin News

BIS Says CBDCs Will Raise the Competition Bar In Payments Industry

Bank of International Settlements (BIS), the top governing institution owned by global central banks, shares its views on central bank digital currencies (CBDCs) and how they can raise the competition bar in the digital payments market. In a report accessed by The Globe and Mail on Wednesday, March 31st, BIS said that the inclusion of

Bank of International Settlements (BIS), the top governing institution owned by global central banks, shares its views on central bank digital currencies (CBDCs) and how they can raise the competition bar in the digital payments market. In a report accessed by The Globe and Mail on Wednesday, March 31st, BIS said that the inclusion of

crypto tether china
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crypto tether china
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China’s CBDC All Set To Eat Into the Digital Payments Market Share of WeChat and Alipay

Alipay and WeChat Pay the two dominant players in China’s online payments marketplace are all set to see tough competition from the country’s very own central bank digital currency (CBDC) aka Digital Yuan. On Thursday, March 25, speaking during a panel discussion organized by the Bank of International Settlements (BIS), Mu Changchun, director of the

Alipay and WeChat Pay the two dominant players in China’s online payments marketplace are all set to see tough competition from the country’s very own central bank digital currency (CBDC) aka Digital Yuan. On Thursday, March 25, speaking during a panel discussion organized by the Bank of International Settlements (BIS), Mu Changchun, director of the

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China Offers Global Regulatory Guidelines For CBDC

China has proposed a set of global guidelines on Central Bank Digital Currencies (CBDC) to help other central banks towards the development of their respective CBDCs. The announcement comes in the wake of many western countries showing great interest in launching their sovereign digital asset as the world moves towards a more digital future in

China has proposed a set of global guidelines on Central Bank Digital Currencies (CBDC) to help other central banks towards the development of their respective CBDCs. The announcement comes in the wake of many western countries showing great interest in launching their sovereign digital asset as the world moves towards a more digital future in

Altcoin News
Altcoin News

BIS Innovation Hub to Build and TesT PoC Platform for Cross-Border CBDC Settlements

The Bank of International Settlements’ Innovation Hub is looking to take further CBDC developments. The BIS Innovation Hub is developing a proof-of-concept (PoC) platform that explores the use of central bank digital currencies (DBDCs) in cross-border payments. The BIS, the global financial institution owned by central banks worldwide, has listed CBDCs as one of the

The Bank of International Settlements’ Innovation Hub is looking to take further CBDC developments. The BIS Innovation Hub is developing a proof-of-concept (PoC) platform that explores the use of central bank digital currencies (DBDCs) in cross-border payments. The BIS, the global financial institution owned by central banks worldwide, has listed CBDCs as one of the

Bitcoin News
Bitcoin News

Central Bank Digital Currencies [CBDC] Are Inevitable Believes Stephen Harper, Former Canadian PM

During a recent interview, former prime minister of Canada Stephen Harper said that he believes Central Bank Digital Currencies [CBDC] are inevitable and he sees Bitcoin as an alternative reserve currency to the US Dollar. Harper’s comment came during an interview at the 2021 Vancouver Resource Investment Conference with Jay Martin of investment firm Cambridge

During a recent interview, former prime minister of Canada Stephen Harper said that he believes Central Bank Digital Currencies [CBDC] are inevitable and he sees Bitcoin as an alternative reserve currency to the US Dollar. Harper’s comment came during an interview at the 2021 Vancouver Resource Investment Conference with Jay Martin of investment firm Cambridge

IMF digital Currencies
Blockchain News
IMF digital Currencies
Blockchain News

Crypto Twitter: IMF’s Twitter Poll On Digital Currency Goes Viral, What’s so Special?

An interesting twitter poll titled, “Are Digital Currencies Real Money” regarding digital currencies posted by International Monetary Fund [IMF] has already received 75K votes and counting. Surprisingly, more than 80% of all the voters till now agree to this notion and believe Digital Currencies are actual Money. Are digital currencies really money? #poll — IMF

An interesting twitter poll titled, “Are Digital Currencies Real Money” regarding digital currencies posted by International Monetary Fund [IMF] has already received 75K votes and counting. Surprisingly, more than 80% of all the voters till now agree to this notion and believe Digital Currencies are actual Money. Are digital currencies really money? #poll — IMF