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“# CBDCs could cut cross border remittance costs by half: BIS report ” The Bank for International Settlements (BIS) has published a report touting the benefits of central bank digital currencies (CBDCs), especially in reducing the cost of cross-border payments. According to the report titled: “Inthanon-LionRock to mBridge: Building a multi CBDC platform for international…
“# Digital dollar advocate will retire as Dallas Fed president ” Rob Kaplan, the president and chief executive officer of the Federal Reserve Bank of Dallas will step down from his position after more than six years. In a Sept. 27 announcement, the Dallas Fed said Kaplan, its 13th president and CEO, would be retiring…
“# It’s now or never — The US has to prepare itself for digital currency ” Welcome to the world of central bank digital currency, or CBDC, where big countries like China and small countries like the Bahamas are trying to mark their presence. It’s a world where 86% of the world’s central banks are…
“# New decentralized stablecoin in China targets international trade ” As financial authorities around the globe become increasingly concerned about stablecoin regulation, a jurisdiction in China is preparing to pilot a new yuan-pegged stablecoin for international trade. Chris Banbury, head of global operations at permissionless blockchain project Conflux, told Cointelegraph on Sept. 21 that the…
“# Fed still undecided about digital dollar, says Chair Jerome Powell ” The United States Federal Reserve is still evaluating the prospects of introducing a digital currency for the country but says it has not yet decided on the matter. Speaking at a news conference on Wednesday, Powell stated that the Federal Reserve was studying…
“# Ripple is helping Bhutan pilot a CBDC ” The Royal Monetary Authority of Bhutan is partnering with Ripple to pilot a central bank digital currency in the mountainous kingdom. In a Wednesday announcement, Ripple Labs said Bhutan’s central bank would be taking advantage of the company’s private ledger to issue and manage a digital…
“# HSBC CEO backs CBDCs against crypto and stablecoins ” HSBC, the largest European bank with total assets of $3 trillion, maintains a skeptical stance on cryptocurrency while promoting the central bank digital currency (CBDC) development. HSBC Group CEO Noel Quinn penned an article, New forms of digital money could spur growth, outlining the firm’s commitment…
“# Central bank of Ukraine to promote ‘fair’ Bitcoin regulation ” The central bank of Ukraine has moved to support the development of the cryptocurrency industry after the Ukrainian parliament adopted a major crypto law in early September. The National Bank of Ukraine (NBU) issued Sept. 13 an official statement on basic principles of monetary…
“# Adapt or die: Payments giants partner with crypto firms to ensure security ” Institutional interest for digital assets continues to grow rapidly, demonstrating that cryptocurrencies, stablecoins and nonfungible tokens (NFT) are here to stay. At the same time, traditional financial institutions are beginning to understand the dire need to properly support digital assets. For…
“# ‘We are at war’ with crypto, says Turkish President Erdoğan ” Turkey is eager to become a blockchain hub as a country with one leg in Europe and another in Asia. However, the same passion doesn’t apply to cryptocurrencies, as Turkish President Recep Tayyib Erdoğan reiterated recently. Erdoğan hosted a question and answer event…