World Bank & IMF Back CBDC Development
The World Bank and the International Monetary Fund (IMF) have come together to discuss the benefits realized from adopting central bank digital currencies (CBDCs). The two financial institutions discussed CBDC adoption during the G20 summit. The joint report was also backed
Tanzania Shows Optimism About Adopting Cryptocurrency
The Tanzanian Central Bank has stated that it works closely with the country’s president, Samia Suluhu Hassan, towards adopting cryptocurrencies. According to reports, the president had issued a directive urging relevant stakeholders to prepare to accept cryptocurrencies. The recent show of
Indonesia Closer To Launching CBDC
The Central Bank of Indonesia is edging closer towards launching a digital fiat. This move comes amidst efforts by the country to minimize cash transactions. The Bank of Indonesia will be joining the other global central banks that have made an
Chinese Banks Prioritize Digital Yuan
Top Chinese banks are prioritizing the digital Yuan over local payment platforms such as WeChat Pay and Alipay. The banks are doing this ahead of the online shopping festival in China starting today. In an analysis report by Reuters, six of
China Ranks Third in Development of CBDC
Mainland China has ranked third after Bahamas and Cambodia on the development of Central Bank Digital Currencies (CBDC). This comes at a time when central banks are looking to digital currencies to transform their economies. Mainland China has come in third
Sweden Releases Research on CBDC
Riksbank, Sweden’s Central Bank, has unveiled data regarding its research into digital currency. The bank announced that launching the digital currency might take longer than expected. In the press release published by Riksbank, it revealed that a central bank digital currency
Stellar Announces Partnership For CBDC Development
The price of XLM rose by 40% following Stellar’s announcement of a collaboration with Ukraine to develop a Central Bank Digital Currency (CBDC) and a digital asset infrastructure. The Memorandum of Understanding and Cooperation was signed with Ukraine’s Ministry of Digital
Chinese Residents Benefit From Digital Yuan P2P Test
Although China may not be disposed to completely accepting Bitcoin and cryptocurrencies, the country’s position on its digital Yuan is no longer news. In August we reported about completed testing of the Digital Yuan. In the latest development, China will now
Philippines Central Bank Plans More Digital Banks
Secure Your Crypto on Ledger Central Banks and governments across the globe are in a rush to create their own Central Bank Digital Currency (CBDC). Though more and more central banks have let it slip that they are working on this