Jinan City Embraces CBDC Payments
Jinan, the capital of Shandong Province in eastern China, has begun promoting the adoption of the country’s central bank digital currency (CBDC) by implementing digital yuan payments on all of its bus routes. The city implemented CBDC payments on two bus lines during the demonstration phase. Following the trial period, the city announced that the […]
North Carolina Passes Bill to Examine Impact of Holding Bitcoin
A bill mandating the North Carolina Department of State Treasurer to investigate the viability and benefits of the state holding Bitcoin has been approved by the General Assembly’s lower chamber. The North Carolina House of Representatives passed a bill on June 28 mandating a $50,000 study of “acquiring, securely storing, insuring, and liquidating” gold bullion […]
BoE CBDC May Consider Blockchain Alternatives as Underlying Technology
Bank of England’s (BOE) central bank digital currency (CBDC) program could use a different ledger than the popular blockchain technology as its underlying technology. Tom Mutton, manager of the BoE’s fintech and CBDC program, recently discussed the privacy aspect of the CBDC and why they may consider alternatives to the blockchain as the underlying technology. […]
SNB to Launch Digital Currency Pilot
Switzerland is entering the world of digital currency innovation as the Swiss National Bank (SNB) prepares to launch a CBDC for wholesale payments on the SIX Digital Exchange. Thomas Jordan, the chairman of the SNB, announced that the decision to issue a CBDC specifically for wholesale payments on the SIX Digital Exchange is historic. It […]
IMF Working on Global CBDC Platform
The International Monetary Fund (IMF) supports cooperation between nations in creating Central Bank Digital Currencies (CBDCs). According to Reuters, the IMF is developing a global platform to enhance the interoperability of CBDCs. This platform aims to facilitate trade between countries once it is fully implemented. IMF Managing Director Kristalina Georgieva emphasized the need for CBDCs […]