On The Web

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Companies

Tencent Commences Test Programme for Digital Yuan Wallet

April 14 2022

• in
• Central bank digital currencies (CBDC)
• Tencent

“Tencent has rolled out a wallet that enables users to make transactions using China’s central bank backed digital currency. Undergoing A/B testing, the Tencent e-CNY Wallet, enables users to transact using the digital currency through QR codes on WeChat. Users will be able to transfer funds, collect payments, and access credit card functions through the […]

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Systems

Central Bank Digital Currencies: a New Tool in the Financial Inclusion Toolkit?

April 13 2022

• in
• Central bank digital currencies (CBDC)

“Central banks are considering how retail central bank digital currencies (CBDCs) may help support financial inclusion. While they are not a magic bullet, central banks see CBDC as a further tool to promote financial inclusion if this goal features prominently in the design from the get-go. In particular, central banks are considering design options around […]

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Systems

Clearing Service DTCC Pushes Ahead With CBDC Prototype ‘Project Lithium’

April 12 2022

• in
• Central bank digital currencies (CBDC)

“The Depository Trust & Clearing Corporation (DTCC) said on Tuesday that it is set to develop a prototype of how a central bank digital currency (CBDC) might work in the US in practice.  The corporation, which provides post-trade market infrastructure for the financial services industry, said in a press release that the model will use […]

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Systems

South Africa Finishes Technical PoC for Wholesale CBDC Settlement System

April 8 2022

• in
• Central bank digital currencies (CBDC)

“South Africa has taken another step closer to implementing its central bank digital currency (CBDC) as the South African Reserve Bank (SARB) concludes a technical proof-of-concept for the project. The project titled Project Khokha 2 (PK2) is the second phase of SARB’s Project Khokha (PK1), launched in 2018. It experimented with distributed ledger technology (DLT) […]

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Systems

CBDC: Why a Digital Dollar Could Take Years to Develop | ZDNet

April 8 2022

• in
• Central bank digital currencies (CBDC)

“The US secretary of the Treasury Janet Yellen has given a bit more insight into how regulation of digital assets like crypto and central bank digital currencies (CBDCs) could develop. Digital assets have grown explosively, reaching a market cap of $3 trillion last November from $14 billion just five years prior, she said.”

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Systems

Sweden’s Central Bank Completes Second Phase of E-krona Testing

April 7 2022

• in
• Central bank digital currencies (CBDC)

“The Swedish central bank’s digital currency project, a proposed CBDC, known as the e-krona has successfully finished its second phase of trials. According to Riksbank, the nation’s central bank, the asset is now technically ready to be integrated into banking networks and facilitate transactions.  During the second phase of the e-krona pilot project — which […]

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Systems

EU Consultation Looks at Issues With a Digital Euro

April 5 2022

• in
• Central bank digital currencies (CBDC)

“If the European Union issued a digital euro, it would need to establish laws in areas such as privacy and anti-money laundering, the European Commission, the EU’s executive branch, said in a consultation published on Tuesday. The call for ideas , which is seen as the first step toward legislation from Brussels on the topic, […]

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Systems

Bank of Jamaica Rolls Out Its Digital Currency ‘Jam-Dex’

April 1 2022

• in
• Central bank digital currencies (CBDC)

“Jamaica’s Central Bank’s decision to pursue its own digital currency is as much an effort to reach out to the relative unbanked segment of the population as it is to continue the Western Caribbean country’s effort to digitise its economy. The Sunday Business Guardian reached out to the Bank of Jamaica’s deputy governor and Central […]

On The Wires

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Systems

The Race to Digital Money Is on – PwC’s 2022 CBDC Global Index Shows Which Central Banks Are in the Lead

April 7 2022

• in
• Central bank digital currencies (CBDC)

“The future of money is digital. It is estimated that more than 80% of central banks are considering launching a central bank digital currency (CBDC) or have already done so.1  The 2022 PwC CBDC Global Index analyzes and ranks the leading retail and wholesale CBDC projects. The Index evaluates the current stage of CBDC project […]

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Systems

The Digital Dollar Project Applauds President Biden’s Executive Order on Central Bank Digital Currency; Gains Support of Leading Financial and Nonprofit Partners

March 31 2022

• in
• Central bank digital currencies (CBDC)

“The Digital Dollar Project (DDP) , a nonprofit leading the exploration of central bank digital currency (CBDC) in the United States (U.S.), today applauded President Joseph R. Biden’s recent Executive Order directing a whole-of-government effort to understand and evaluate the benefits and risks of a U.S. CBDC for individuals and businesses alike.”