Ad The general manager of the Bank for International Settlement, Agustin Carstens, said events in the past year “have cast serious doubts on the ability of stablecoins to function as money.” In a Feb. 22 speech, the bank chief argued that what sustains fiat currency is not novel technologies but “the institutional arrangements and social…
Ad Bank of Japan director Uchida Shinichi said that the apex bank would launch a central bank digital currency (CBDC) pilot program to test the use of digital yen from April. The Bank of Japan launched the Proof of Concept (PoC) phase of its CBDC experiment in April 2021. The PoC was designed to investigate the…
Ad Referencing the e-Naira, Journalist Nick Corbishley said, “A very dark experiment is underway in Nigeria.” In a tweet posted on Feb. 16, as riots broke out across several Nigerian cities, Corbishley said a failure to convince citizens to adopt the e-Naira has led to a doubling down by the central bank. “Since October 2021,…
Ad Crypto exchange Bitget (BGB) announced its partnership with the fintech company Capitual to participate in Brazil’s Central Bank Digital Currency (CBDC) project. Capitual is amongst the main partners of Brazil’s Central Bank, which assist the institution with exploring CBDCs. As reported in January, Brazil and Argentina are considering launching a joint CBDC protocol. The…
The UK plans to impose a cap of between £10,000 to £20,000 ($12,017 to $24,033) for initial digital wallet holdings as it pushes forward with plans to introduce a Central Bank Digital Currency (CBDC), according to a Bank of England (BOE) official. According to a Bloomberg report published on Feb. 8, the BOE plans to…
Gazprombank said the Russian central bank digital currency (CBDC) has to be launched gradually and carefully to minimize the losses banks will face as a consequence, Russian news outlet RBC reported Feb. 7. According to the report, the lender believes the digital ruble will lead to an inevitable fall in banks’ income due to lower…
The U.K. initiated the consultation period for its digital pound today and said that the asset will not be a cryptocurrency, as seen in a Feb. 7 statement. Jeremy Hunt, Chancellor of the Exchequer, said: “While cash is here to stay, a digital pound issued and backed by the Bank of England could be a…
Latest Report Is the crypto bottom in? On-chain says yes, macro says pain occurs after the fed pause Is Bitcoin poised for a new low or has the bottom been set at $15,500? CryptoSlate analyzed on-chain and macro data to present both sides of the argument. Andjela Radmilac · 2 days ago
The Bank of England (BoE) and His Majesty’s Treasury will introduce a roadmap to build a central bank digital currency (CBDC) next week, The Telegraph reported on Feb. 4. The BoE and Treasury are looking to launch a four-month consultation in which businesses, academics, and the wider public will be invited to share views on the…
India’s largest retail chain Reliance Retail has begun accepting payments in the country’s Central Bank Digital Currency (CBDC), TechCrunch reported. According to the report, Reliance Retail already rolled out the Digital Rupee support at its gourmet store chain Freshpik and intends to roll it out to its other divisions in the coming days Reliance Retail…