Colombia Central Bank Recommends Limiting CBDC Holdings, Spending
According to the Central Bank of Colombia, restricting CBDC transactions may help with concerns over user security and privacy. The central bank of Colombia believes that restricting transactions involving a potential central bank digital currency (CBDC) could enhance user security and privacy. Although the bank has not decided on creating a CBDC, it sees benefits […]
Russia to Start CBDC Trials With 13 Banks
The Bank of Russia (BoR) has announced that it will start using digital rubles for testing Russia’s central bank digital currency (CBDC) project. The testing phase begins on August 15, with 13 banks and a few consumers participating. According to First Deputy Governor Olga Skorobogatova , the project’s critical stage will involve trial operations using […]
Soramitsu to Launch Cross-border CBDC in Asia
The Japanese fintech company Soramitsu is developing a cross-border payment system for Asian nations using central bank digital currencies (CBDCs). They have incorporated CBDCs from Laos and Cambodia, like the Bakong CBDC. This system aims to facilitate digital transactions involving stablecoins tied to established legal currencies. Bakong’s success is evident from its widespread use, serving […]
Bank of Russia Reveals CBDC Logo, Commission Fees
The Bank of Russia has revealed the official logo of the central bank digital currency (CBDC). It also stated all services will be free till the end of 2024. However, by 2025 commission fees will be placed on individual and B2B transactions. The official logo for the digital ruble initiative developed by the Bank of […]
Bank of Korea Reportedly Selects 3 Cities to Pilot CBDC
According to a local South Korean media outlet, the Bank of Korea has selected three regions to pilot its central bank digital currency (CBDC), none including the country’s capital, Seoul. The Bank of Korea confirmed on July 31 that Jeju, Busan, and Incheon have been selected as candidates for the “private target CBDC test bed.” […]