China’s CBDC wallet resorts to ages-old customs to boost adoption
China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money. In an effort to draw in more users, China’s wallet app for its digital yuan central bank digital currency (CBDC) added a function that allows users to transmit money in an electronic equivalent of traditional […]
Nigeria bans ATM cash withdrawals over $225 (₦100,000) weekly
The Central Bank of Nigeria has limited the amount of cash that people and companies may withdraw in order to boost the usage of the eNaira, Nigeria’s Central Bank Digital Currency (CBDC). In a circular sent to financial institutions on December 6, the Central Bank of Nigeria said that individuals and companies would henceforth be […]
Pakistan signs new laws ahead of CBDC launch in 2025
In preparation for a Central Bank Digital Currency (CBDC) by the year 2025, the State Bank of Pakistan (SBP) has signed in new laws for Electronic Money Institutions, and non-bank entities offering digital payment instruments. Central bank digital currencies (CBDCs), which inherit the financial prowess of the technology that fuels cryptocurrencies, are seen by regulators […]
National Bank of Ukraine releases draft concept for digital hryvnia
The National Bank of Ukraine presented to representatives of banks, non-banking financial institutions, and the virtual assets market for discussion of the project of the concept of e-hryvnia. The National Bank of Ukraine (NBU) has unveiled a concept for its prospective digital hryvnia (e-hryvnia) central bank digital currency (CBDC). On November 28, the central bank […]
Reserve Bank of India to launch retail CBDC pilot in December
The Reserve Bank of India (RBI) is getting ready to launch retail CBDC pilot after testing its use in wholesale transactions. The Reserve Bank of India (RBI) is getting ready to launch the retail CBDC pilot of the “digital rupee” after testing its use in wholesale transactions. Within a month, the pilot should begin flying. […]