Central Bank Digital Currency Archives

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2 November, 2020

Estonia central bank talks CBDC research project, combating digital currency fraud

Rainer Olt, head of Payments and Settlement Systems Department, said Eesti Pank wants to “address and overcome the bottlenecks of...

Shenzhen pilot program highlights potential for digital yuan

Jacob Rozen

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31 October, 2020

Shenzhen pilot program highlights potential for digital yuan

The digital yuan is not a digital currency like Bitcoin, but a virtual fiat currency issued and controlled by the...

Swiss National Bank and BIS announce digital currency trial by 2020 end

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29 October, 2020

Swiss National Bank and BIS announce digital currency trial by 2020 end

The trial will also allow the banks to see how the technology syncs with existing payment systems, as well as...

China’s new draft law seeks to legalize digital yuan but ban competitors

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29 October, 2020

China’s new draft law seeks to legalize digital yuan but ban competitors

In a new draft law, the bank proposed banning any yuan-pegged digital tokens, effectively killing off any competitor to its...

Bahamas launches Sand Dollar, the world’s first official CBDC

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28 October, 2020

Bahamas launches Sand Dollar, the world’s first official CBDC

The Central Bank of the Bahamas has developed the Sand Dollar to be transferrable via mobile phones, making it easy...

Hong Kong finance chief open to collaboration on digital yuan

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28 October, 2020

Hong Kong finance chief open to collaboration on digital yuan

The Hong Kong government is reportedly exploring working with Chinese authorities to incorporate the digital yuan in wholesale and cross-border...

Kenyan central bank exploring CBDCs, digital currency regulation

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26 October, 2020

Kenyan central bank exploring CBDCs, digital currency regulation

The Central Bank of Kenya is in discussions with other central banks globally regarding the introduction of a central bank...

Chinese consumers spend 8.8 million in digital yuan trial

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26 October, 2020

Chinese consumers spend 8.8 million in digital yuan trial

Equivalent to around $1.3 million in spend, Shenzhen residents reportedly turn to the as-yet-unreleased digital currency for payments in a...

New Zealand central bank chief says ‘no plans’ for CBDC

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24 October, 2020

New Zealand central bank chief says ‘no plans’ for CBDC

There are currently no imminent plans to launch a central bank digital currency in New Zealand, according to a Reserve...

Philippines central bank says no imminent digital currency

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23 October, 2020

Philippines central bank says no imminent digital currency

The Bangko Sentral ng Pilipinas said significantly more research was required before it would champion a digital peso.

IMF: CBDCs give more control, but don’t solve every problem