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

“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

South Africa Finishes Technical PoC for Wholesale CBDC Settlement System

“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

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

“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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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

“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

“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.”