The People’s Bank of China (PBoC), the Chinese central bank, plans to use their digital yuan during the 2022 Winter Olympics in Beijing. It could be the first test for China’s central bank digital currency (CBDC) with international users. With the increasing adoption of crypto-assets, central bank digital currencies (CBDCs) have once again become a […]
The Federal Reserve Bank will publish a report on the potential transition to a Central Bank Digital Currency (CBDC) in the summer of 2021. The advanced projects of several countries, first and foremost China, as well as the increasing digitalization have intensified the discussion. The U.S. Federal Reserve did not reveal any specific plans for […]
The US investment bank JPMorgan, Singapore’s largest bank (DBS) and the state-owned investment firm Temasek have jointly launched a new blockchain company focused on global payments and cross-border transactions between banks. The new company called Partior seeks to digitize commercial banks’ money using the blockchain technology. It aims to reduce the existing friction in cross-border payments, transactions and foreign […]
Project Helvetia, an experiment between the Bank for International Settlements (BIS), the Swiss National Bank (SNB) and the financial market infrastructure operator SIX, plans to integrate tokenized assets into existing payment systems. Project Helvetia has, in a real-world environment, demonstrated that it is possible to provide central bank money to settle securities transactions using new […]
More and more central banks are dealing with digital central bank currencies (CBDC) and the digitization of fiat currencies. The Central Bank of Australia (RBA) is also addressing this issue and is investigating the implications and effects of a CBDC.
An increasing number of central banks around the world are analyzing, testing and developing CBDCs as prototypes. These initiatives are strongly supported by the Bank for International Settlements (BIS). Over the past nine months, central banks (CBs) have expressed their interest in CBDCs (Central Bank Digital Currencies) and their CBDC plans and initiatives. The number […]
An insatiable thirst for dollars, the race for the status of the global reserve currency and interest rates on the block chain. Many changes are underway in the structure of the global economy. Currencies, exchange rates and interest rates seem to be shaped by digitalization. We have seen an explosion in the demand for Stablecoins […]
The Italian Banking Association (ABI), which has more than 700 banking institutions as members, wants to further promote the introduction of a digital currency in the form of a Euro CBDC. In a position paper, the association points out the advantages of a digital currency. By participating in various projects and a separate working group, […]
In a 32-page document entitled “Central Bank Digital Currency”, the Federal Reserve Bank of Philadelphia examined the future of the monetary system in connection with digital central bank currencies (CBDCs). The Federal Reserve Bank of Philadelphia concludes in the paper that the introduction of digital currencies could lead to a fundamental change in the architecture […]
Digital currencies issued by central banks will be a hot topic in 2020. Meanwhile, many central banks have already discussed the advantages and disadvantages of CBDC’s, and some nations are already working on their own digital currency. In a survey conducted this year by the Bank for International Settlements (BIS) among 66 central banks, 80% […]
