Central Bank Digital Currency Archives

Nigeria to explore ICOs and stablecoins to broaden payments landscape

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18 January, 2023

Nigeria to explore ICOs and stablecoins to broaden payments landscape

Nigeria published a new policy document, pledging to rethink its ICO stance to attract FDI as well as a blockchain-based...

Philippines central bank pushes through with wholesale CBDC plans to improve payments

Business

Wahid Pessarlay

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17 January, 2023

Philippines central bank pushes through with wholesale CBDC plans to improve payments

Bangko Sentral ng Pilipinas said it will not be exploring the retail version of its central bank digital currency but...

People’s Bank of China currency report now includes digital yuan

Business

Wahid Pessarlay

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16 January, 2023

People’s Bank of China currency report now includes digital yuan

Including digital yuan data in the final report is a clear statement of intent by the PBoC to move with...

Mexico CBDC initial phase paused, full-scale launch remains unclear

Business

Wahid Pessarlay

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13 January, 2023

Mexico CBDC initial phase paused, full-scale launch remains unclear

Bank of Mexico's Deputy Governor Jonathan Heath confirmed that the CBDC will be operational in early 2024, giving the central...

Russia studying CBDCs for cross-border payments amid tightening sanctions

Business

Wahid Pessarlay

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13 January, 2023

Russia studying CBDCs for cross-border payments amid tightening sanctions

Efforts to launch the digital ruble are already in place, with testing client-to-business (C2B) operations by selected financial institutions scheduled...

Hong Kong lawmaker wants to convert its planned CBDC to stablecoin

Business

Wahid Pessarlay

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12 January, 2023

Hong Kong lawmaker wants to convert its planned CBDC to stablecoin

The wider virtual currency ecosystem could gain from converting the planned CBDC to a stablecoin, according to Wu Jeizhuang, member...

ECB seeking stakeholder input on the digital euro rulebook

Business

Steve Kaaru

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10 January, 2023

ECB seeking stakeholder input on the digital euro rulebook

The European Central Bank officially opened the application for those interested in joining the Rulebook Development Group, with the application...

Digital ruble bill submitted to Russia’s State Duma

Business

Wahid Pessarlay

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4 January, 2023

Digital ruble bill submitted to Russia’s State Duma

The new draft bill seeks to make the Bank of Russia the “sole operator” of the digital ruble to the...

Turkey completes phase 1 of digital lira pilot, pledges to push ahead in 2023

Business

Steve Kaaru

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4 January, 2023

Turkey completes phase 1 of digital lira pilot, pledges to push ahead in 2023

The Turkish central bank announced that it had conducted the first successful transactions on the digital lira and said it...

China’s CBDC wallet utilizes AliPay’s red packets to boost adoption amid stiff competition

Business

Wahid Pessarlay

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2 January, 2023

China’s CBDC wallet utilizes AliPay’s red packets to boost adoption amid stiff competition

To boost CBDC wallet adoption and keep up with the payments industry, the PBoC digitally incorporated China's age-old tradition of...

IMF set to collaborate with the Philippines on wholesale CBDC project

Business

Wahid Pessarlay

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26 December, 2022

IMF set to collaborate with the Philippines on wholesale CBDC project

The Philippines has joined countries exploring central bank digital currencies via a partnership with the International Monetary Fund, believing that...

Kazakhstan sees potential in CBDCs, eyes phased rollout until 2025

Business

Wahid Pessarlay

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24 December, 2022

Kazakhstan sees potential in CBDCs, eyes phased rollout until 2025

The National Bank of Kazakhstan disclosed rounding up the second testing phase in developing the digital tenge, and it may...

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