CBDCs
Russia and China Moving Their CBDC Projects Forward
Central bank digital currency (CBDC) initiatives around the world are ramping up. The Bank of Russia has reportedly named 12 banks to develop a prototype of the digital ruble by December. Meanwhile, the CBDC trials have reached Beijing’s subways as passengers can now use the digital yuan to pay their fares.
China's CBDC Trials Reach Beijing Subway
Passengers with Industrial and Commercial Bank of China's mobile app can use the digital yuan to pay their fares.
Bank of Russia Picks Banks to Pilot Digital Ruble
The regulator expects the prototype of the CBDC in December and piloting it in 2022.
Spain Considers Implementing a Digital Euro
The ruling party PSOE presented a non-law proposition in the Spanish Congress.
Stablecoins and CBDCs: Private Vs. Public Monetary Innovation
A Federal Reserve official praised stablecoins over CBDCs, yesterday. The debate cuts right to role of government in money.
Blockchain in Asia: China’s Ripple Effect
Throughout Asia, the race is on to lead not just the region but the world in the blockchain and digital currency space. China may have been first out of the gate, but the rest of Asia is scrambling to keep up.
Singapore’s Central Bank, IMF Launch Global Challenge for CBDC Solutions
The Monetary Authority of Singapore’s “Global CBDC Challenge” will be supported by Amazon Web Services, Mastercard, Hyperledger and others.
Swiss National Bank Has No Plans for a Digital Currency: Report
The Swiss National Bank tested the feasibility of CBDCs in 2020.
Palestine’s Central Bank Reportedly Mulling a CBDC Launch
Palestinians do not have an independent currency, and rely on the Israeli shekel and Jordanian dinar.
BIS Says Bitcoin Has Few Redeeming Attributes
Cryptocurrencies are "speculative assets rather than money" used in many cases to facilitate financial crime, the central bank organization said.
