CBDC

Reserve Bank of Australia, CBDC

Australia’s Reserve Bank forms partnerships for CBDC research

The financial institution will partner with the Commonwealth Bank, National Australia Bank. The financial services company Perpetual, and software company ConsenSys on a project to explore the potential use of a wholesale central bank digital currency in the country using “Ethereum-based distributed ledger technology”. According to a Nov. 2 announcement from The Reserve Bank of […]

Report: Another Chinese giant, Meituan Dianping, Might Test Digital Yuan

As the People’s Bank of China (PBoC) – the country’s central bank – is said to have engaged in negotiations. With a giant online food distribution network to check the digital yuan. The roll-out of China’s much-discussed central bank digital currency (CBDC) is getting one step closer. Citing “people with direct knowledge of the matter,” […]

BitMEX Report: Issuance of CBDCs may lead to inflation

BitMEX Report: Issuance of CBDCs May Lead to Inflation

A March 18th post by BitMEX Research discusses the two approaches governments can take with regards to the issuance of a Central Bank Digital Currency (CBDC) and the ramifications for the economy. Money Supply In the modern economy, the money supply is largely determined by the banks’ ability and/or willingness to make loans. From a […]

Sweden's central bank digital currencies

Sweden’s Central Bank Wants to Host Innovation Hub for Digital Currencies

The Riksbank, Sweden’s central bank that started testing its own central bank digital currency (CBDC) in February, wants to host the digital currency innovation hub by the Bank for International Settlements (BIS). Officially announcing the news on March 6, the Riksbank noted that in order for the hub to be located in Sweden, the bank […]

Bank of England

Bank of England Releases Discussion Paper on CBDCs

The Bank of England (BoE) is seriously weighing the pros and cons of issuing a central bank digital currency (CBDC) denominated in pounds sterling. Britain’s central bank recognized that a digital pound could be destabilizing for the current banking system. However, digital currency could use the latest FinTech and make transactions easier and faster for […]

Marshall Islands sovereign digital currency will be based on algorand

Marshall Island’s Digital Currency will be Built on Algorand Blockchain

The Republic of the Marshall Islands (RMI) has selected blockchain firm Algorand as the technology partner for its national digital currency. After first revealing its planned digital currency – the Marshallese Sovereign (SOV) – back in February 2018, the Marshall Islands has taken a further step in the development by partnering with major blockchain startup […]

Bank of England warns crypto adoption may impact credit creation

Bank of England Warns Crypto Adoption May Impact Credit Creation

Jon Cuncliffe, the deputy governor for the financial stability of the United Kingdom’s central bank, the Bank of England (BoE), has warned that the crypto adoption may weaken or eliminate bank credit issuance. In a speech delivered to the London School of Economics on Feb 28, Cunliffe predicted that the integration of stablecoins on social […]

BOE official says central banks may lose payments race to tech companies

BOE Official: Central Banks May Lose Payments Race to Tech Companies

Bank of England (BoE) chief cashier Sarah John has expressed opinions favoring state-issued digital currencies, according to Feb 22 article published by The Telegraph. She urged other central banks to consider developing central bank cryptocurrencies in response to recent moves from private companies’ in the digital payments sector. John stated that it’s “really important” to […]

JP Morgan: Blockchain in Banking still years away

JP Morgan: Blockchain in Banking Still Years Away

A recent report by a major United States bank JP Morgan Chase suggested that current blockchain developments are lying down the foundation for digital money, but adoption is still years away. A report published by JP Morgan on Feb 21 suggests that the finance industry is moving beyond blockchain technology. Blockchain in Banking Still Years […]

Japan's research on central bank digital currency advances

Japan the Next Country to Mint a Central Bank Digital Currency

With finance ministers and central bank governors have recently discussed cryptocurrency regulations at the G-20 summit, Japan is taking notice at home. Leaders at the Bank of Japan (BOJ), Ministry of Finance (MOF), and financial Services Agency (FSA) have held a number of meetings to determine whether the country should become next in line to […]