NY Fed Begins 12-week CBDC Pilot Program With Major Banks
Major banks including BNY Mellon, Citi, U.S. Bank and Wells Fargo will be issuing tokens and settling transactions through CBDC pilot program. A 12-week proof-of-concept pilot for a central bank digital currency, or CBDC, was announced by the Innovation Center of the Federal Reserve Bank of New York, or NYIC. The program will investigate the […]
Singapore MAS Works With New York Fed To Explore CBDCs
The collaborative effort of MAS and NYIC aims to evaluate the potential use of wholesale CBDCs in international trade. A joint experiment with wholesale central bank digital currencies will be launched by the Monetary Authority of Singapore (MAS) and the New York Innovation Center (NYIC) of the Federal Reserve Bank of New York. The potential […]
Binance CEO claims CBDCs pose no threat to crypto
Changpeng “CZ” Zhao, CEO of Binance, believes CBDCs and crypto aren’t a threat to his company or the sector and there is a space for both. Changpeng “CZ” Zhao, the CEO of Binance, appears to have changed his mind about central bank digital currencies (CBDCs), saying during a conference that he doesn’t believe they pose […]
Digital yuan will offer ‘controllable anonymity’ – Chinese central bank
At the Hong Kong Fintech Week, Yi Gang, the Chinese central bank governor, discussed the country’s national digital currency, the digital yuan which will provide controllable anonymity to consumers. Yi pointed out during his address that the digital yuan is being promoted in China, a nation with a strong digital payment infrastructure, as a currency […]
Reserve Bank Of India To Reportedly Launch Digital Rupee Pilot
After announcing its plan to create a digital rupee, the Reserve Bank of India is on schedule to introduce a central bank digital currency. The RBI announced on October 31 that the Indian Reserve Bank will begin the digital rupee pilot program for the wholesale market on November 1.Nine locally active institutions, including the largest […]