Indian banks disbursed some employee benefits through the digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said. The central bank digital currency (CBDC), called the e-rupee, has been devised as a…
The UK is pacing up its efforts to understand the possible outcomes of rolling out a digital Pound CBDC. On the order of the UK Parliamentary Committee and the House of Commons, the Bank of England and the UK Treasury have analysed the benefits that could entail the launch of…
The State Bank of India (SBI) has announced the implementation of Unified Payments Interface (UPI) interoperability with the Digital Rupee, also called as Central Bank Digital Currency (CBDC). With this move, SBI aims to deliver convenience and accessibility to its customers. This feature, accessible through the ‘eRupee by SBI’ application…
Mukesh Ambani, one of the world’s richest men settled in India’s financial capital, is prepared to explore the Web3 arena. The 66-year-old Indian billionaire disclosed his Web3-related plans during the 46th annual general meeting of Reliance Industries (RIL) that was held on Monday. While the Reliance chief aims to keep…
Singapore has announced a framework for stablecoins, as the overall global crypto sector faces increased rules and regulations in different parts of the world. The Monetary Authority of Singapore (MAS) announced these rules on August 15, which now allow for stablecoins to become part of the country’s existing financial system….
India is making its name as a lucrative startup hub for Web3 projects with its large pool of developer talent, the Bharat Web3 Association (BWA) has said sharing an analysed observation. India’s own crypto advocacy group, the BWA, was established in November last year, aiming to bridge the communication gap…
The Reserve Bank of India (RBI) is aiming to clock one million transactions in India’s under-trial CBDC, the eRupee, daily by December. In order to accelerate number of CBDC transactions, the RBI is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the…
India may take the next big leap in its eRupee central bank digital currency (CBDC) venture any day now. The Reserve Bank of India (RBI) could soon facilitate CBDC payments via existing UPI QR codes. The deployment of this interoperability element to the eRupee CBDC has been in the pipeline…
The Bank of Japan on Thursday kicked off a series of discussions with 60 companies on a pilot programme for developing a digital yen, joining peers around the globe ramping up efforts towards issuing digital versions of their currencies for retail use. The discussions will touch on various themes including…
The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Nearly two dozen central banks across emerging and advanced economies are…
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