CBDCs
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Moody’s Report: Cross-Border CBDC transactions may affect banks’ commission

Moody’s Investors Service latest report warned financial institutions that the widespread adoption of CBDCs may cause credit-negative for banks in lieu of lowered fees and commissions. Furthermore, banks with active foreign currency payments, clearing, and remittance services will bore the burn of losses according to Moody’s credit outlook report. This month, the Bank of International

Moody’s Investors Service latest report warned financial institutions that the widespread adoption of CBDCs may cause credit-negative for banks in lieu of lowered fees and commissions. Furthermore, banks with active foreign currency payments, clearing, and remittance services will bore the burn of losses according to Moody’s credit outlook report. This month, the Bank of International

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JP Morgan Warns Hasty CBDC Implementation Could “Cannibalize” Financial System

JP Morgan, the American Banking giant has warned against the hasty implementation of Central Bank Digital Currencies (CBDC). The bank said the creation of a new CBDC based retail loan and payments channels must not come at the cost of the existing financial system. Hasty implementation of the CBDCs in the retail market could “cannibalize”

JP Morgan, the American Banking giant has warned against the hasty implementation of Central Bank Digital Currencies (CBDC). The bank said the creation of a new CBDC based retail loan and payments channels must not come at the cost of the existing financial system. Hasty implementation of the CBDCs in the retail market could “cannibalize”

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Shanghai to Airdrop Millions in Digital Yuan

The Chinese city of Shanghai would airdrop 19.25 million digital yuan equivalent to USD 3 million via a lottery system as per the Information Office of Shanghai Municipality. The Chinese CBDC is currently being tested across the country at various levels after its development was completed in 2019.  A total of 350,000 digital red envelopes,

The Chinese city of Shanghai would airdrop 19.25 million digital yuan equivalent to USD 3 million via a lottery system as per the Information Office of Shanghai Municipality. The Chinese CBDC is currently being tested across the country at various levels after its development was completed in 2019.  A total of 350,000 digital red envelopes,