CBDC

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What is CBDC? Understanding digital currencies

/CBDC

Dominique Dierks Content Manager at Finextra

What is CBDC? Understanding digital currencies

/payments

Solomon Islands CBDC PoC goes live

The Central Bank of Solomon Islands (CBSI) and Japanese blockchain fintech company Soramitsu (Tokyo, Japan; President Kazumasa Miyazawa; Group CEO Makoto Takemiya) have begun a Proof-of-Concept (PoC) for a Central Bank Digital Currency (CBDC). Starting from November 1, 2023, the CBSI has been testing the system provided by Soramitsu for use cases related to domestic and foreign payments, including testing simulated international remittances.

/crypto

Xion Global taps G+D Filia to bridge gp between blockchain and traditional financial systems

Xion Global uses technology from Giesecke+Devrient (G+D) for an innovative holistic financial solution. By combining it’s web3 multi-chain payments infrastructure and G+D's CBDC solution Filia for interbank deposit token transfer, Xion is creating a seamless financial ecosystem for digital asses as well as public currencies.

/startups

Almond FinTech Raises $7M

Almond FinTech, a B2B technology company bridging the worlds of fiat and digital currency, is excited to announce a new funding milestone of $7 million. The funding will help broaden Almond's rapidly expanding network in Asia, the Americas, and Africa, while reinforcing their commitment to making financial services affordable and accessible to people everywhere.

/crypto

Ripple to lead National Bank of Georgia's CBDC pilot project

The National Bank of Georgia (NBG) has chosen Ripple, the leader in enterprise blockchain and crypto solutions, as the official technology partner for its Digital Lari (GEL) pilot project. The pilot will experiment with Ripple’s CBDC technology and evaluate the practical use cases to gauge potential benefits for the public sector, businesses and retail users.

Aussie university pilot offline CBDC

/payments

Aussie university pilot offline CBDC

Students at Australia's Southern Cross University have been piloting the use of a CBDC to pay for goods and services offline at on-campus vendors.

Deutsche Bank and Standard Chartered pilot network for stablecoins and CBDCs

/crypto

Deutsche Bank and Standard Chartered pilot network for stablecoins and CBDCs

Deutsche Bank and Standard Chartered have carried out the first digital currency transfer and swap on the new Universal Digital Payments Network (UDPN).

/people

Etay Katz appointed to BofE/Treasury CBDC engagement forum

Global law firm Ashurst's digital assets practice lead and chair of the bank industry sector, Etay Katz has been appointed to sit on the Bank of England ('BOE') and HM Treasury ('HMT') Engagement Forum for Central Bank Digital Currency ('CBDC').

EU data protection watchdog calls for more privacy for digital euro

/payments

EU data protection watchdog calls for more privacy for digital euro

The European data protection watchdog has recommended changes to EU draft legislation for a digital euro in order to boost privacy standards.

Fed governor Bowman sceptical on digital dollar

/payments

Fed governor Bowman sceptical on digital dollar

Michelle Bowman has become the latest Federal Reserve Governor to pour cold water on a US CBDC, saying that the benefits of a digital dollar are unclear while the risks could be significant.

China opens CBDC industrial park

/crypto

China opens CBDC industrial park

China has opened a Central Bank Digital Currency (CBDC) focused industrial park in the Luohu district of Shenzhen on October 11.

/crypto

Temenos unveils POC for CBDC wallet integration

Central banks globally are progressing with their CBDC projects. A frequent requirement for retail CBDC is the provision of private sector digital wallets for consumers, providing a secure way to obtain, hold, and spend digital currency.

Sibos 2023: What will a digital euro look like?

/Sibos

Sibos 2023: What will a digital euro look like?

As the digital euro project comes to the end of its investigation phase, Ulrich Bindseil and Evelien Witlox from the European Central Bank provided the Sibos audience with an update on the progress made so far and what comes next.

Sibos 2023: Can CBDC replace cash?

/crypto

Sibos 2023: Can CBDC replace cash?

At Sibos 2023 in Toronto, EY’s Christopher Woolard chaired a session on how digital currencies have made a big splash over the past few years and questioned whether they will be merely a drop in the ocean.

Sibos 2023: What’s next for low-value cross-border payments?

/Sibos

Sibos 2023: What’s next for low-value cross-border payments?

The challenges and opportunities associated with low-value cross-border payments was on the agenda at Sibos on Monday as a panel of industry players explored a host of models, from correspondent banking to DLT to interlinked national systems.

The Future of the Global Financial Ecosystem 2024

/CBDC

The Future of the Global Financial Ecosystem 2024

1057 downloads

Bank of Canada explores impact of quantum computing on CBDCs

/security

Bank of Canada explores impact of quantum computing on CBDCs

The Bank of Canada has called in local specialist evolutionQ for a research project involving quantum-safe cybersecurity technologies for greenfield digital currencies.

YES Bank eRupee app gets UPI interoperability

/crypto

YES Bank eRupee app gets UPI interoperability

YES Bank has gone live with Unified Payments Interface (UPI) interoperability on the Reserve Bank of India's CBDC app.

Global CBDC adoption is on the horizon – Giesecke + Devrient

/devops

Global CBDC adoption is on the horizon – Giesecke + Devrient

Digital payments innovation in different regions of the world is being spurred on by Central Bank Digital Currency (CBDC) adoption, as nations experiment with new payments options that can be more inclusive and dynamic. 130 countries are currently exploring the possibilities with CBDC adoption, which allows for digital money to be supported and used publicly alongside cash whilst supported by the nation’s central bank.

Digital Dollar Project and Western Union pilot CBDC for cross-border remittances

/inclusion

Digital Dollar Project and Western Union pilot CBDC for cross-border remittances

The Digital Dollar Project says a pilot carried out with Western Union into the use of CBDCs for cross-border remittances has found a host of potential benefits.

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