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 […]
BOJ to conduct digital yen trial with Japan’s 3 megabanks
The Bank of Japan (BOJ) is working with three megabanks as well as regional banks in the Asian nation—and next year will trial a digital yen. The Bank of Japan (BoJ) is still testing a potential digital yen despite Japan’s uncertainty over whether to issue a central bank digital currency (CBDC). According to a Nov. […]
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 […]