“At this stage, we judge it likely that the digital pound will be needed in the future. It is too early to decide whether to introduce the digital pound, but we are convinced preparatory work is justified”, said the BoE and HM Treasury.
Search Query: #cbdc
It seems that central bankers may welcome the idea of backing stablecoins as a shortcut for a Central Bank Digital Currency (CBDC).
Beyond financial inclusion, many respondents believe CBDCs will deliver enhanced national competitiveness (44%), greater efficiencies within their payment systems (43%), and advance innovation more broadly (42%).
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The National Roll-Out of the central bank digital currency (CBDC) is scheduled for the 1st quarter of 2022, the Bank of Jamaica has announced.
Central Bank Digital Currencies seem to be the craze around the digital world at the moment and Zimbabwe Central Bank has also lent its weight behind the CBDCs as it has signaled its intentions to launch one of its own.
The craze for digital payment options has forced central banks around the world to look into the launching of central bank digital currencies (CBDCs), seemingly to cope with the rising demand for the same.
Is it a coincidence that KaJ Labs scored a partnership with Brazil’s central bank after donating such an amount to Ripple’s defense?
The Indian Reserve Bank could seriously consider pushing ahead with its central bank digital currency (CBDC) in a move that is expected to help push out the usage of private cryptos and stablecoins in the long run.
McKinsey has published its Global Payments Report where it talks about the recovery of the payments industry from the pandemic last year and how the recovery has been unbalanced so far.
Eight Central Banks from around the world, have got together to discuss building a consensus surrounding the central bank digital currencies which have been dominating the monetary policy meeting of many countries over the last few months.
Visa, one of the biggest companies to be supporting crypto-related products over the last 2 years, has announced the launch of a universal payment channel that would support transactions between stablecoins and CBDCs.
The Bank of England (BOE) has enlisted the help of 2 study groups which will provide inputs for the bank as far as the launch of CDBCs is concerned.
Bhutan, the small Asian country, is looking to pilot its central bank digital currency (CBDC) on top of the CBDC Private Ledger technology of Ripple.
Bitt won the bidding to become technical partner in part thanks to its work on the development and launch of the Eastern Caribbean Central Bank CBDC’s pilot earlier this year.
Bank of Ghana, the central bank of Ghana, has tied up with the Germany-based notes and securities printing firm Giesecke+Devrient (G+D) to use its technology for carrying out a pilot on central bank digital currency (CBDC).
The Bank Of Jamaica, in a ceremony, has minted the first instalment of its central bank digital currency (CBDC) JMD on August 10 as it looks set to adopt digital currencies in the coming months.
Venezuela, the country that is struggling to deal with hyperinflation for the past many years, has announced that it would be launching its digital version of the currency Bolivar from October 1.
The prospective competition from central bank digital currencies may come into sharp focus, said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
