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On The Web

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Systems

Bank of England Debating Digital Currency Creation, Bailey Says

“The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey. The BOE is part of a group of major central banks teaming up to assess potentially developing their own digital currencies, acknowledging their role is being challenged by new technologies and private sector initiatives such as Facebook […]
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Systems

Italian Banks Lend Support to Central Bank Digital Currency Initiatives

“The Italian Banking Association (ABI) says its members are ready to participate in pilot projects for a European-level central bank digital currency (CBDC). The ABI last year established an Expert Group dedicated to exploring digital money and crypto assets.Asserting that monetary stability and a full respect of the European regulatory framework must be taken in […]
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On The Wires

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Reports

BIS Encourages Central Banks to Continue Adapting to the Challenge of Digital Payments

“Central banks, as guardians of the safety and integrity of the payment system, must keep evolving to meet the challenge of rapidly accelerating digital innovation, the Bank for International Settlements (BIS) writes in its Annual Economic Report. In a special chapter on central banks and payments in the digital era , the BIS analyses the implications […]
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Global

The Bank of Thailand Announces the Prototype Development Project of Central Bank Digital Currency (CBDC)

“The Bank of Thailand (BOT) has announced the project to develop the prototype of the payment system for businesses using Central Bank Digital Currency (CBDC), which will build upon knowledge from Project Inthanon. The project scope will include conducting a feasibility study and developing a process to integrate CBDC with the business’ innovative platform. The […]