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Visa Offers Test Platform for Central Bank Digital Currencies

January 14 2022

• in
• Central bank digital currencies (CBDC)

“Visa Inc. joined its rival Mastercard Inc. in offering central banks a way to test retail applications for digital currencies they might issue. The card payment provider will begin piloting a program this spring with ConsenSys Inc. , a blockchain software company, after discussions with roughly 30 central banks about goals related to government-backed digital […]

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Systems

U.K. Lords See No Convincing Case for BOE to Make Digital Pounds

January 13 2022

• in
• Central bank digital currencies (CBDC)

“A panel of lawmakers from the U.K. Parliament delivered a blow to the Bank of England’s effort to launch a digital currency, saying officials have given no convincing reason it’s needed. The House of Lords Economic Affairs Committee, which includes former BOE Governor Mervyn King, raised concerns the project might threaten the stability of the […]

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Visa Partners With ConsenSys to Help Bridge CBDCs With Traditional Finance

January 13 2022

• in
• Central bank digital currencies (CBDC)

“Payments giant Visa has teamed up with Ethereum scaling firm ConsenSys to help central bank digital currency (CBDC) networks bridge the gap with traditional financial institutions. Customers will eventually be able to use their CBDC-linked Visa card or digital wallet anywhere that Visa is accepted globally, Catherine Gu, Visa’s head of CBDC, said in a […]

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BIS, Swiss National Bank, SIX Exchange Complete Wholesale CBDC Trial

January 13 2022

• in
• Central bank digital currencies (CBDC)

“Switzerland is practically ready to launch a wholesale central bank digital currency (CBDC). Working in concert, the Bank for International Settlements (BIS), the Swiss National Bank (SNB) and the country’s stock exchange, SIX, have test-driven the integration of wholesale CBDC settlement. Also included in the prototype were five commercial banks: Citi, Credit Suisse, Goldman Sachs, […]

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China Offers Digital Yuan at Olympics to Test Overseas Appeal

January 11 2022

• in
• Central bank digital currencies (CBDC)

“China is rolling out its digital yuan to athletes and spectators ahead of the Beijing Winter Olympics, the first major test of the virtual currency’s appeal among foreigners. With less than a month to go before kickoff , and the event already encumbered by diplomatic boycotts and the threat of virus outbreaks, China is looking […]

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CBDC Wallet Tops Mobile App Store Charts in China

January 10 2022

• in
• Central bank digital currencies (CBDC)

“The app is still in an experimental phase and is only accessible to select individuals through authorized e-CNY service providers. While anyone in China could download the app, its usage is limited to select cities. Despite these limitations, the South China Morning Post reported that e-CNY managed to become the most downloaded app on Apple’s […]

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China’s Digital Currency Comes to Its Biggest Messaging App WeChat, Which Has Over a Billion Users

January 7 2022

• in
• Central bank digital currencies (CBDC)

“Tencent -owned WeChat, China’s largest messaging app and one of the country’s biggest payment services, will begin supporting the country’s sovereign digital currency. China has been working on the digital yuan since 2014 and is yet to roll it out nationwide. But the move by WeChat, which has over 1 billion users, to support the […]

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China Central Bank Launches Digital Yuan Wallet Apps for Android, IOS

January 5 2022

• in
• Central bank digital currencies (CBDC)

“China has released pilot versions of its digital yuan wallet application on mobile phone app stores as the country’s central bank steps up its push to develop its own digital currency. The “e-CNY (Pilot Version)” app, developed by the People’s Bank of China’s (PBOC) digital currency research institute, was available for download on Chinese Android […]

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Mexico Plans to Issue a CBDC by 2024, Government Confirms

January 4 2022

• in
• Central bank digital currencies (CBDC)

“The Central Bank of Mexico (Banxico) plans to launch a central bank digital currency (CBDC) by 2024, the Mexican government confirmed in a tweet on Wednesday evening. According to the tweet, which was written in Spanish, Banxico “will have a digital currency of its own in circulation” by 2024 as it considers of “utmost importance […]

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Bank of Jamaica Completes First CBDC Pilot

January 4 2022

• in
• Central bank digital currencies (CBDC)

“The Bank of Jamaica (BoJ) has successfully completed its f central bank digital currency (CBDC), targeting a national rollout in the first quarter of 2022. After proceeding with initial CBDC prototype testing in March 2021, Jamaica’s central bank finished an eight-month-long pilot last Friday, the Jamaica Information Service reported . As part of the pilot, […]