Tag: Bank

Mastercard See No Justification for Central Bank Digital Currencies Yet: CNBC

The payments giant has a CBDC Partner Program that includes participants such as Ripple, Fireblocks and Consensys. The move was designed to encourage conversations among key players in the industry, but was seen as a way for Mastercard (MA) to deepen its involvement with CBDC developments as the number of nations exploring the technology grows. As many as 130 countries, representing 98% of global gross domestic product, are exploring a CBDC, according to the Atlantic Council. In May 2020, only 35 countries were considering one. Still, only 11 countries have…

Singapore central bank to trial live wholesale CBDC for settlements

boss

A pilot program for a live Singapore dollar-based central bank digital currency (CBDC) was unveiled by Singapore’s central bank with a wholesale CBDC to be used by local banks for settlements.  “I am pleased to announce that MAS will pilot the ‘live’ issuance of wholesale CBDCs to instantaneously settle payments across commercial banks,” MAS Managing Director Ravi Menon said on Nov. 16 at the Singapore Fintech Festival. The MAS had previously only simulated the issuance of a CBDC in test environments, Menon said the central bank would soon partner with…

IMF Prepares Central Bank Digital Currency Handbook

“If appropriately designed, CBDC has the potential to improve payment systems and support a role for central bank money even as other digital payment solutions proliferate. But the appropriateness of CBDC will vary with country circumstances. Given the complexities and the novelty involved, policymakers need to explore CBDC carefully and systematically,” the IMF paper said. Source

National Bank of Kazakhstan Starts CBDC Pilot, Makes First Digital Tenge Retail Payment

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

XRP Won’t Turn Into Bank Stablecoin Post-AMM Launch: Expert

boss

In the wake of Ripple’s announcement regarding the integration of an Automated Market Maker (AMM) into the XRP Ledger (XRPL), the community has been abuzz with speculation and debate. Central to this discourse is the potential transformation of XRP in light of this update, particularly in regard to its classification and function as a digital asset. Ripple’s Chief Technology Officer, David Schwartz, previously hailed this update as the most significant for XRPL, raising expectations among stakeholders. Additionally, at the recent Swell conference, Ripple revealed plans to integrate its rebranded Ripple…