RBI Governor: Private Crypto Will Cause Financial Disaster
The governor of India’s reserve bank, Shaktikanta Das, has made a public speech claiming that private crypto would trigger the next financial crisis.
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Spain’s Central Bank Proposes for Wholesale CBDC Project
The benefits of CBDCs, which are used at a wholesale level by banks and financial markets, were disclosed by the Bank of Spain on Monday. Read CNL.
Nigeria Limits Cash Withdrawals to Boost CBDC Adoption
The Nigerian central bank implemented limits on cash withdrawal to encourage the use of CBDC on the path to a totally cashless society. Read CNL.
Elon’s BTC and CBDC Confusion: ‘Money Is Digital Already’
Musk was questioned about his concerns about the quick global adoption of central bank digital currencies (CBDCs) on December 4th, 2022. Read CNL.
Indonesia’s CBDC May Be Used in the Metaverse Later
The central bank of Indonesia announced that its forthcoming central bank digital currency (CBDC) will be used in the Metaverse later.
Indonesian White paper on planned digital currency is out
Indonesia’s central bank presented ideas in a whitepaper for a blockchain-based digital rupiah currency on Wednesday. Read more on CNL.
Asian Central Banks Tests CBDC Transactions
Countries representing 95% of the world’s GDP are now using or looking into CBDCs. Asian central banks have finished the latest CBDC transaction experiment. Asia-Pacific nations have led the way in digital innovation. Asian central banks have completed the world’s largest pilot of central bank digital currency transactions. This comes to light in an announcement by the Central Bank of the United Arab Emirates (CBUAE) on Wednesday. Project mBridge, which tests cross-border payments, included the pilot in its scope. They accomplished this by leveraging a shared platform built on distributed ledger technology (DLT). The issuing and trading of CBDCs by
Kazakhstan to Integrate its CBDC on BNB Chain
Binance exchange’s CEO Changpeng Zhao has revealed the state of Kazakhstan would be testing the integration of their CBDC on the BNB Chain.
China Extends CBDC Trial to Most Populous Provinces
Along with Guangdong, the People’s Bank of China intends to expand the experiment of its e-CNY digital money to Jiangsu, Hebei, and Sichuan through CBDC.
Over 200 Businesses Now Accepting Bitcoin in Guatemala
The market’s acceptance of Bitcoin is becoming increasingly noticeable. In Guatemala alone, up to 200 businesses are now accepting bitcoins. Guatemala joins some countries in the world in becoming Bitcoin-friendly. Despite Bitcoin’s notorious volatility, its acceptance in the modern market is becoming noticeable. In Guatemala alone, there are around 200 businesses accepting the chief cryptocurrency. The central bank presidents for Honduras and Guatemala both said that they have been studying digital currencies. In addition, they are aiming to eventually introduce them into the economy, including via a central bank digital currency (CBDC). Guatemala’s central bank Vice President, Jose Alfredo
African Nations Trialing CBDC After Nigeria’s e-Naira
South Africa and Ghana are now trialing their own CBDC. Nigeria has formally launched its e-Naira after a successful pilot that ran for months. The Bahamas is the first country in the world to launch its CBDC, followed by Nigeria. More African countries are now trialing their own central bank digital currency (CBDC) following Nigeria’s official launching of its own e-Naira. According to the International Monetary Fund (IMF), at least South Africa and Ghana are hot on the heels of Nigeria. Specifically, the South African Reserve Bank is now running tests with its wholesale CBDC. Financial institutions in the country
Jamaica to Launch CBDC Jamaica Digital Exchange
Bank of Jamaica is set to launch a central bank digital currency named Jamaica Digital Exchange. The institution will perform additional tests this month to its CBDC to guarantee seamless transactions. The CBDC should help Jamaicans who are financially excluded, the Bank of Jamaica’s Governor said. Bank of Jamaica, the central bank of Jamaica, plans to launch a digital version of its national currency. Last February, the institution stated that everything was ready for the release of the product. The CBDC, named Jam-Dex, stands for Jamaica Digital Exchange. According to a recent interview with the Business Guardian, Natalie Haynes, the
