Global bank messaging network SWIFT will trial live transactions of tokenised assets and digital currencies next year, it said on Thursday, the latest step in the currently slow-moving integration of such assets into the wider financial system. Banks and asset managers have been exploring “tokenising” traditional assets like bonds for…
India is one of several countries actively working to integrate Central Bank Digital Currencies (CBDCs) into their financial systems. Over the weekend, the International Monetary Fund (IMF) proposed a framework aimed at facilitating widespread adoption of CBDCs, known as REDI, which stands for Regulation, Education, Design and Deployment, and Incentives….
India’s digital Rupee, or eRupee central bank digital currency (CBDC), is presently in the advanced phases of its trials facilitated by 16 national banks. The eRupee has managed to amass five million users in its pilot stage, RBI Governor Shaktikanta Das claimed Monday. Das was speaking at a conference in…
GooglePay, Walmart-backed PhonePe and AmazonPay are among five payment firms seeking to join the Indian central bank’s digital currency pilot by offering transactions via the eRupee, three sources directly involved in the discussions said. Indian fintech firms Cred and Mobikwik are the other two that have applied to join the…
Dubai-based ByBit crypto exchange has announced the integration of the eRupee CBDC with its peer-to-peer (P2P) transaction service. In an official statement, the exchange said it has received multiple requests from Indian merchants urging support for eRupee transactions. Since the eRupee is India’s RBI-issued digital currency, the merchants dealing in…
The Reserve Bank of India (RBI) released its latest report detailing the development and roadmap ahead for the digital finance industry. Among several innovations that the RBI praised in this report, the mention of the eRupee central bank digital currency (CBDC) did not go unnoticed. Built like crypto but regulated…
The Bharat Web3 Association (BWA) met with industry stakeholders in New Delhi on July 11, ahead of the upcoming budget announcement for FY2024-2025. During the meeting, Dilip Chenoy, the chairperson of this Web3 advisory body, said that the industry is ready to be patient and give the government enough time…
India’s eRupee CBDC, that is presently in its advanced trial period, is reportedly facing decline in terms of its usage. Citing sources familiar with the matter, a Reuters report has claimed that CBDC transactions that had hit the mark of one million transactions per day in December 2023, has dropped…
Central Bank Digital Currencies, or CBDCs, are picking up the pace in several nations around the world, and Iran is one of them. In the coming days, the country will gradually be deploying its ‘digital rial’ virtual currency into a public pilot phase. The Central Bank of Iran (CBI) is…
The Reserve Bank of Indi’s (RBI) eRupee or central bank digital currency (CBDC) is currently in an advanced trial phase with multiple national banks assisting the RBI in rolling out the digital currency. The usage of eRupee in the retail sector reportedly increased over the past year, according to data…
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