CBDC
Central bank digital currency (CBDC) utilizes technology to represent a country’s official currency in digital form. Unlike decentralized cryptocurrency, CBDC would be centralized and regulated by a country’s monetary authority. Digital fiat currencies or digital base money, CBDC will act as a digital representation of a country’s fiat currency, and will be backed by a suitable amount of monetary reserves. E-Yuan, Digital Euro or Digital USD, ruble or sterling pound are a fact but no one of these countries officially launched such money.
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Pakistan’s State Bank Proposes Legalization of Digital Assets
On November 4, the State Bank of Pakistan (SBP) unveiled a set of policy proposals aimed at legalizing digital assets,…
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BIS Evaluates the Potential Shutdown of Project mBridge
According to a recent Bloomberg report, the Bank for International Settlements (BIS) is evaluating the potential shutdown of Project mBridge,…
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SWIFT to Launch Live Digital Currency Trial in 2024 Amid Growing Competition
SWIFT, the global financial messaging giant, announced that it will trial live digital currency transactions in 2024. This move signals…
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UDPN Integrates Hedera-Powered Stablecoins & CBDCs for Seamless Payments
GFT, a global IT engineering solutions provider, and Red Date Technology, a decentralized cloud infrastructure company, have successfully integrated stablecoins…
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UAE Surges Ahead: A Comparative Look at the IMF’s CBDC Adoption Framework
On September 20, 2024, the International Monetary Fund (IMF) released a pivotal report on Central Bank Digital Currency (CBDC) adoption,…
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RAKBANK Achieves Milestone with First CBDC Transfer via mBridge
RAKBANK has become one of the first banks in the UAE to successfully execute an international remittance using China’s digital…
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Russia’s Central Bank Advocates Cryptocurrencies, BRICS Currency a Long Shot
Russia’s Central Bank Recommends Cryptocurrencies to Counter Sanctions Russia’s central bank has advised businesses to use various solutions, including cryptocurrencies…
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Banque de France and HKMA Collaborate on CBDC Cross-border Initiatives
The Banque de France and the Hong Kong Monetary Authority (HKMA) have announced their collaboration on wholesale central bank digital…
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European Central Bank Releases First Progress Report on Digital Euro Preparations
The European Central Bank (ECB) has unveiled its inaugural progress report detailing advancements in the preparation phase for the potential…
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Global Survey Shows Central Banks Embrace CBDCs, with UAE Among Pioneers
Central banks around the world are increasingly exploring the potential of central bank digital currencies (CBDCs), as highlighted by a…
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