Ripple, Fubon Bank Partner for Hong Kong CBDC Pilot Program
Ripple revealed it would collaborate with Fubon Bank in Hong Kong to explore real estate asset tokenization using the e-HKD. Xu Luosheng, executive vice president and chief strategy officer of Fubon Bank Hong Kong, announced that the bank would launch a pilot program that would concentrate on client refund requests. The trial will use Ripple’s […]
Russian President Vladimir Putin Signs Law on Digital Ruble
The Bank of Russia has promised no obligatory transfer of salaries and pensions to digital rubles when they are finally in use. According to a formal government document, President Vladimir Putin signed the measure establishing the digital ruble into law on July 24, advancing Russia’s central bank digital currency (CBDC). The digital ruble law is […]
US Congressman Proposes to Ban CBDC
Central bank digital currencies (CBDCs), according to US congressman Warren Davidson, should be outlawed and criminalized. The congressman referred to the Federal Reserve’s initiatives as “building the financial equivalent of the death star” in a tweet on July 23. This suggests that he has serious reservations about the central bank receiving potential power and control […]
Banque de France Unveils Results of Wholesale CBDC Tests
The French Central Bank, the Banque de France has unveiled the results of extensive testing involving wholesale Central Bank Digital Currency (wCBDC). Twelve different experiments that were conducted over the course of three years in cooperation with several European central banks, commercial banks, and fintech partners made up the experiment. It aimed to evaluate several […]
EU Officials Dismiss Privacy Fears Over Digital Euro
European authorities are trying to reassure the public that the digital euro, a proposed central bank digital currency, will not be a surveillance tool or a conspiracy. They say the project will be democratic, open, and transparent and will complement cash as a means of payment. The digital euro is a potential digital form of […]