The Bank of Canada and the Monetary Authority of Singapore (MAS) have used distributed ledger technology to send each other central bank digital currencies (CBDCs).
The Singapore Fintech Festival yesterday played host to a quartet of distinct cross-border and digital currency payment initiatives, drawing in United Overseas bank, Grab, Ripple and the country's central bank.
Payments Canada, the Bank of Canada, TMX Group, Accenture (NYSE: ACN) and R3 have published a report demonstrating the feasibility of clearing and settlement of securities using distributed ledger technology (DLT).
If the long-predicted cashless society ever materialises it will be unlikely to cause material system-wide problems, according to a Bank of Canada paper, which nevertheless warns that options such as central bank digital currencies might be needed to tackle operational reliability and contestability issues.
Some of you here today may have purchased bitcoins or one of the other cryptocurrencies or products that have launched in recent years. I’m not here to give you investment advice about them. Rather, I want to share with you our current thinking about these virtual products.
A Bank of Canada investigation into the benefits and costs of issuing a central bank digital currency for monetary policy.
Using distributed ledger technology for instantaneous clearing and settlement of securities is "feasible", Canada's central bank and biggest exchange operator have concluded in the wake of a proof-of-concept test.
Canada's central bank has begun working with the country's six largest lenders to boost the cyber-resilience of the wholesale payments ecosystem as part of a wider effort to improve industry collaboration in the fight against hackers.
Finance Minister Bill Morneau and Bank of Canada Governor Stephen S. Poloz today unveiled the new $10 bank note featuring Viola Desmond during a ceremony at the Halifax Central Library.
A central bank digital currency (CBDC) has the potential to become a cheaper and easier to use alternative to cash and cards, according to research from the Bank of Canada.
© Finextra Research 2019