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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BIS Survey: 94% of Central Banks Eye Wholesale CBDCs
The Bank for International Settlements (BIS) found that 94% of surveyed central banks are exploring Central Bank Digital Currency (CBDC).…
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The End of the Petrodollar? A Closer Look at the Future of Oil Settlements
The recent expiration of the long-standing petrodollar agreement between Saudi Arabia and the US has stirred the global financial system.…
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UAE’s mBridge Platform Debuts for CBDC Payments, Eyes Domestic Use Next
The Central Bank of the UAE (CBUAE) has launched the Minimum Viable Product (MVP) of its mBridge platform, marking a…
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Qatar Central Bank Advances Digital Transformation with CBDC Infrastructure Completion
The Qatar Central Bank (QCB) has announced a significant milestone in its digital transformation journey with the completion of the…
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China-Arab States Cooperation Forum Eyes Blockchain Future with Local Currencies and CBDCs
The 10th Ministerial Conference of the China-Arab States Cooperation Forum (CASCF) concluded today, signaling a potential boom for blockchain technology…
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Hong Kong Expands Cross-Border Digital Yuan Pilot to Include Hong Kong Residents
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have expanded their cross-border digital yuan pilot,…
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Bahrain and Saudi Arabia Forge Unique Paths in Embracing Financial Technology
In a recent panel discussion at the World Economic Forum in Riyadh, the differing approaches of Bahrain and Saudi Arabia…
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Ensuring Privacy: Dr. Joachim Nagel’s Commitment to Trust in the Digital Euro
Dr. Joachim Nagel, President of Deutsche Bundesbank, underscored the paramount importance of trust in the dynamic realm of digital payments…
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Global Bank Messaging Network SWIFT’s New CBDC Platform Is on the Horizon
Global bank messaging network SWIFT has revealed plans for a new platform, expected to launch within the next one to…
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CBUAE’s Strategic Roadmap for CBDC Rollout and Stablecoins
The United Arab Emirates (UAE) has been diligently advancing its central bank digital currency (CBDC) agenda over a significant period.…
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