News with the tag "central bank digital currency (CBDC)"

Russian banks, particularly smaller ones, are unhappy about the high cost (between $1.25 million and $2 million) of integrating with the central bank’s digital ruble platform. This cost is seen as prohibitive for many banks, exceeding their IT budgets. The central bank has mandated different deadlin...

The question of why banks would opt to use XRP instead of creating their own Central Bank Digital Currencies (CBDCs) is frequently posed, as many in the crypto community believe banks would prefer to own their CBDCs. CryptoTank (@Tank2033js), a crypto researcher and investor, has weighed in on this ...

Taiwanese Central Bank Governor Yang Chin-long stated that the development of digital currency (CBDC) is not an international competition, and being the first to launch does not guarantee success. He disclosed that the Central Bank of the Republic of China (Taiwan) will conduct three scenario tests ...

The Ethiopian Council of Ministers recently approved a draft proclamation that paves the way for the launch of a central bank digital currency (CBDC). The National Bank of Ethiopia (NBE) stated that the draft considers rapid technological advancements and draws from the experiences of fellow central...

Despite facing legal challenges from the Securities and Exchange Commission (SEC), Ripple is forging ahead in the Central Bank Digital Currency (CBDC) landscape. In a recent clip from an interview shared on X, Ripple CEO Brad Garlinghouse revealed that the company has secured partnerships with ten g...

Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite China’s a...

The Zano blockchain’s recently completed Zarcanum hard fork (HF4) will enable users and organizations to create custom tokenized assets that meet their specific needs. These custom tokenized assets or confidential assets, will be untraceable on the Zano blockchain. The team believes that without pri...

The Digital Euro Association (DEA) has entered into a partnership with the HBAR Foundation. This collaboration aims to bolster its comprehension of central bank digital currencies (CBDCs) and stablecoins. Although this partnership marks a significant milestone in the digital currency landscape it ne...

The Russian Central Bank is discussing the possible use of central bank digital currencies as a payment method in foreign trade, according to Elvira Nabiullina, the bank’s governor. Nabiullina stated that while Russia is opposed to the use of crypto payments in domestic transactions, the country is ...

Ripple, the prominent blockchain payment company behind XRP, has made it to the shortlist of potential technology partners for a significant central bank digital currency (CBDC) project. The National Bank of Georgia (NBG) has taken a significant step in its digital GEL pilot project. Antony Welfare,...