CBDC
Central bank digital currency (CBDC) utilizes technology to represent a country’s official currency in digital form. Unlike decentralized cryptocurrency, CBDC would be centralized and regulated by a country’s monetary authority. Digital fiat currencies or digital base money, CBDC will act as a digital representation of a country’s fiat currency, and will be backed by a suitable amount of monetary reserves. E-Yuan, Digital Euro or Digital USD, ruble or sterling pound are a fact but no one of these countries officially launched such money.
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Turkey’s Central Bank Assesses First Phase of Digital Lira
The Central Bank of the Republic of Turkey (CBRT) has unveiled a comprehensive report evaluating the initial phase of its…
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UAE Succeeds in First Cross-Border Payment Using Digital Dirham
Sheikh Mansour bin Zayed Al Nahyan, Vice-President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board…
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Turkey Unveils Final Stages of Crypto Regulations, as CBDC Pilots Enter Second Phase
In a recent interview with the Anadolu Agency on January 10, Turkish Minister of Treasury and Finance, Mehmet Şimşek, provided…
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Bank of Spain Selects Partners for CBDC Trials
The Bank of Spain has teamed up with Cecabank, Abanca, and Adhara Blockchain for trials on the central bank digital…
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Ripple Launches White Paper, Associates Risks to CBDCs
Blockchain-based payments giant Ripple has taken a robust stance in favor of central bank digital currencies (CBDCs) through the unveiling…
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National Bank of Kazakhstan Debuts CBDC Pilot Launch for Digital Tenge
The National Bank of Kazakhstan has taken a substantial leap into the realm of central bank digital currencies (CBDCs), joining…
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IMF Managing Director Advocates CBDCs as Potential Cash Replacement and Catalyst for Financial Inclusion
In her keynote address at the Singapore FinTech Festival, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), emphasized…
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European Central Bank Progresses Toward Digital Euro Introduction
The European Central Bank took an additional stride on October 18 in the direction of introducing a digital version of…
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RBA Signals Australia’s Willingness to Embrace CBDC as Future Currency
The Reserve Bank of Australia (RBA) is exploring the potential of adopting a Central Bank Digital Currency (CBDC) as the…
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