The authorities of Hong Kong, China, presented the prototype of what will be its digital currency issued by the central bank (CBDC).
This project is called "Project Aurum", which includes a two-tier platform with a wholesale interbank and a retail electronic wallet system, according to part of the…
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CBDC
China’s digital yuan transactions top 100 million
China's digital currency (CBDC), issued by the People's Bank of the Asian country, has already penetrated 15 provinces, resulting in more than 369 million payments with this new financial instrument.
The PBOC recently issued a report,…
Australia to launch its pilot test for CBDC in 2023
Australia estimates to complete the pilot tests for the launch of its own CBDC in 2023. This has been indicated by the authorities of the country's Reserve Bank.
The RBA recently published the white paper for this project of its own…
Russia wants to implement its digital currency by 2024
The Central Bank of Russia announced that it plans to implement a digital ruble for 12 previously chosen banks in 2024.
A document issued by the CNR establishes that the comprehensive implementation is scheduled to begin within two years,…
Australia to explore use cases for CBDC
The Reserve Bank of Australia (RBA) announced that it will conduct a pilot program to explore the use cases and potential economic benefits for central bank digital currencies (CBDCs).
This program will be carried out by the Digital…
The Bank of Thailand will work on tests with CBDC
The Bank of Thailand (BOT) announced that it will soon take the development of its own CBDC to the pilot stage, which is scheduled to start at the end of 2022.
As detailed by the financial institution, the real application of this will…
The US Treasury highlights the importance of CBDC
The US Treasury's Bureau of Financial Research recently indicated that central bank digital currencies (CBDC) can increase the stability of the banking system.
The institution's researchers indicated that in difficult times, clients often…
Jamaica will launch its Jam-Dex in June 2022
The Governor of the Central Bank of Jamaica, Richard Byles, announced that the digital currency, CBDC, will be available to the public between the months of June and August in order to improve the quality of life of Jamaican entrepreneurs…
Brazil will launch its CBDC this year
The president of the Central Bank of Brazil, Roberto Campos Neto, reported that the pilot program of a digital currency issued by the institution will be applied this year.
As indicated by the president of the entity, this is expected to…
Central Bank of Canada and MIT develop digital currency
The Central Bank of Canada announced a partnership with the Massachusetts Institute of Technology (MIT) to begin a central bank digital currency (CBDC) research and development project. The financial organization also seeks to analyze the…
Brazil will work with private allies in its digital currency
The Central Bank of Brazil (BC) selected nine companies as allies to work together on the development of its digital currency, CBDC, where some decentralized finance (DeFi) platforms such as Aave, the Brazil-based digital asset exchange…
Mitsubishi UFG bank launches progmacoin stablecoin
Mitsubishi UFJ (MUFG Bank) financial institution launched progmacoin, a blockchain-based stablecoin that is pegged to the Japanese yen. The bank entered into an alliance with Japan's SBI Group and Daiwa Securities for the purpose of instant…