China’s CBDC transactions volume crosses $14B mark
Bank of China’s electronic yuan, or e-CNY, is the most frequently used Central Bank Digital Currency (CBDC) globally as transaction volumes total 100.04 billion yuan, or almost $14 billion. By the end of the summer, 360 million transactions had been completed in 15 provinces under the CBDC pilot program, according to the information posted on […]
Digital Rial Testing Set To Begin In Iran This Week
In August, the country’s central bank released a draft document that talked about the goals and opportunities for a digital currency. According to the news service of the country’s Chamber of Commerce, Industries, Mines, and Agriculture, the Central Bank of Iran will start a central bank digital currency (CBDC) pilot on Thursday. The CBI was […]
FedNow instant payments service Set for Launch in 2023
People see the FedNow instant payments service as a step toward putting in place a CBDC in the future. The U.S. Federal Reserve has moved the launch of its FedNow platform for instant payments to between May and July of 2023.A press release says that the service will be available to financial institutions of any […]
Nigeria’s eNaira Nears $10M Worth of Transactions
There are 270,000 active wallets and 840,000 downloads of the eNaira app. Since it was introduced last October, the eNaira, which is Nigeria’s central bank digital currency (CBDC), has been used to make transactions worth $9.3 million, according to the country’s central bank governor.In a speech on Thursday, Godwin Emefiele, governor of the Central Bank […]
Nigeria targets the unbanked as it adds features to eNaira.
Participants at the eNaira Hackathon were informed that the CBDC would become more appealing and accessible as a result of technological advancements. According to Nigerian Central Bank governor Godwin Emefiele, who was speaking at the 2022 eNaira Hackathon in Abuja on Thursday, the eNaira, the country’s central bank digital currency (CBDC), would enter the second […]