Tag: Bank

Nigeria’s Central Bank in Talks with Partners to Revamp Its CBDC

Two sources familiar with the matter said that the central bank is willing to develop its own software for the CBDC in order to keep full control of the effort.  It’s been nearly eighteen months since Nigeria launched its central bank digital currency (CBDC) eNaira back in October 2021. Now, the Central Bank of Nigeria is planning for a tech revamp of its CBDC. Currently, Nigeria’s central bank is in talks with potential technology partners who can develop a system to run and manage their CBDC. Two sources familiar with…

Bank of Russia to Start Testing Digital Ruble With Real Users on April 1 – Finance Bitcoin News

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The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s Monetary Authority to Trial Actual Settlements With Digital Ruble The Central Bank of the Russian Federation (CBR) is going to proceed to the next phase of the digital ruble pilot project on the first day of April. Testing will involve real transactions with…

Southeast Asia’s Largest Bank DBS Sees 80% Increase in Bitcoin Trading Volume on Its Crypto Exchange – Featured Bitcoin News

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The largest bank in Southeast Asia, DBS, has revealed that bitcoin trading volume on its cryptocurrency exchange jumped 80% in 2022 while ether trading volume surged 65%. “We believe that the market has decisively shifted its focus towards trust and stability, especially in the wake of multiple scandals that have rocked the industry,” a DBS executive described. DBS Sees Record Trading Volumes for Bitcoin and Ether DBS, the largest bank in Southeast Asia, announced last week that its digital asset exchange saw record trading volumes for bitcoin and ether in…

San Francisco federal bank eyes CBDC system development, reveals job posting

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The Federal Reserve Bank of San Francisco is looking for a software engineer to help develop and implement systems related to a central bank digital currency (CBDC). On Feb. 18, the San Francisco Fed posted a job opening for a “senior application developer – digital currency.” The candidate is expected to aid the Federal Reserve in designing and implementing systems critical to CBDC research. Revealing its intention, the Fed’s post read: “Given the dollar’s important role, Federal Reserve System seeks to further understand the cost and benefits of the potential…

Bank of Japan Plans to Launch CBDC Pilot Program in April 

The bank plans to invite private companies to participate in a CBDC Forum, which it will set up.  As the CBDC effort intensifies across many countries, the Bank of Japan has launched a pilot program for its CBDC. The executive director for the central bank, Uchida Shinichi, talked about the development on the 17th of February. In an opening speech at the CBDC committee meeting, he explained the progressive processes concerning the matter. The pilot program in Japan for “digital yen” will begin after the completion of the Proof of…

Bank of America, Goldman Sachs, JPMorgan, UBS Share Predictions About Further Fed Rate Hikes – Economics Bitcoin News

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Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year. Major Banks Predict More Fed Rate Hikes As the U.S. Federal Reserve continues its fight against inflation, several major banks — including Bank of America, Goldman Sachs, UBS, and JPMorgan — have shared their predictions about how much more the Fed will raise interest rates this year. Goldman Sachs…

Custodia Bank CEO slams Washington’s ‘misguided crackdown’ on crypto

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The CEO of Custodia Bank Caitlin Long has slammed regulators and lawmakers in Washington D.C. for their “misguided crackdown” on the crypto sector, and also for ignoring her warnings of major “fraud” allegedly conducted by now-bankrupted entities. In a Feb. 17 blog post titled “Shame On Washington, DC For Shooting A Messenger Who Warned of Crypto Debacle,” Long tore into the government for its approach to crypto regulation, failing to protect investors and alienating good actors in the space: “Washington’s misguided crackdown will only push risks into the shadows, leaving…