Central Bank of Brazil Reveals New Use Cases to Be Tested in Its Drex CBDC Second Pilot Phase
The Central Bank of Brazil disclosed a new set of use cases that will be part of the second phase of the ongoing pilot of its drex CBDC. Among the…
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Brazilian CBDC Pilot Postponed to 2025 Due to Inefficiency of Privacy Solutions
The Central Bank of Brazil announced the postponement of the completion of the drex pilot, the Brazilian CBDC, due to the inefficiency of the privacy solutions presented for the project…
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the…
Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023
The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize…
Australian CBDC receives unexpected interest but could hurt banks: RBA
The pilot "eAUD" program is unique in that the Reserve Bank of Australia has not proposed use cases, and has received numerous suggestions from the industry.
Russia’s Digital Ruble Integrated Into Banking App
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select…
JP Morgan executes first DeFi trade on public blockchain
The MAS Chief Fintech Officer said the successful test was “a big step towards enabling more efficient and integrated global financial networks.”
Chinese Digital Currency Transactions Exceed 100 Billion Yuan, Central Bank Says
Spending with China’s state-issued digital currency has surpassed 100 billion yuan, close to $14 billion, by the end of August, the country’s monetary authority revealed. More than 5 million merchants…
Australia Issues White Paper for Central Bank Digital Currency
Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties…
China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level
China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced…