BIS joint venture will allow Institutions to use CBDCs for International Settlements. Project Dunbar, led by the Innovation Hub’s Singapore Centre, demonstrated that financial institutions could use CBDCs issued by participating central banks to transact directly with one another on…
Key Takeaways: The early adopters of CBDC will receive $2,500 from the Government. Bank account holders will automatically get a JAM-DEX enabled wallet. On March 8, Dr. the Hon. Nigel Clarke, the Minister of Finance and the Public Service, delivered…
Follow us on Google News Following Russia’s attack on Ukraine last week, NATO allies have decided to sanction Russia by barring it from the global SWIFT financial ecosystem. According to Bloomberg analyst Andy Mukherjee, the SWIFT, CHIPS, and Dollar are…
Follow us on Google News The Central Bank of Mexico is set to embrace the concept of digital currencies by coming up with their national digital currency. By 2024, the Mexican government announced the move on social media. For the…
Brazil is awaiting the approval of a bill that will permit the issuance of the digital form of Real. Central Bank will have the supreme power in the creation of digital currency. However, savings in digital format will be considered…
Follow us on Google News Key Takeaways: Jamaica’s central bank digital currency (CBDC) now has a name. The name of Jamaica’s central bank digital currency (CBDC) is JAMAICA DIGITAL EXCHANGE. It is also known as JAM-DEX in short. The name,…
Follow us on Google News Key Takeaways: In a newly disclosed document, Kenya’s central bank stated that a central bank digital currency may enhance the country’s financial system. The bank warned that implementing a CBDC might come with its own…
The People’s Bank of China (PBOC) is leading the development of the digital yuan, a central bank digital currency (CBDC) that seeks to replace some of the country’s cash. What is a Digital Yuan? It’s essentially a technique for the…
Follow us on Google News Key Takeaways: Myanmar’s military administration hopes to launch a digital currency this year to help with domestic payments and stimulate the economy. The country’s shadow government announced in December that tether will be accepted as…
On Thursday, the process of creating the possible U.S. dollar took a step ahead as the initial research by the Federal Reserve Bank of Boston was successful. As a result, the code can now finally support a currency. This brought…
