The experiments with Central Bank Digital Currencies (CBDCs) have picked-up pace around the world, and Kazakhstan is no different. The central Asian nation, which is a hotspot for crypto miners, has decided to take slow steps in devising and rolling-out its CBDC — that essentially is Kazakhstan’s fiat currency in…
India’s digital rupee CBDC, officially stepped into its retail trial period in four cities — New Delhi, Mumbai, Bengaluru, and Bhubaneswar, on Thursday, December 1. The State Bank of India, ICICI Bank, Yes Bank, and IDFC First bank are the lenders that are participating in these trials, and upon completion,…
The Reserve Bank of India (RBI) is expanding the use cases of its digital rupee CBDC. Starting December 1, the testing for the Indian CBDC for retail purposes will kickstart in select regions in the country. Built on blockchain, the digital rupee is a virtual representation of India’s fiat currency…
China’s digital currency called e-CNY is gradually being allowed to make inroads into the fintech sector of the world’s most populated country. Now that the testing of e-CNY has percolated inside major cities, the governor of China’s central bank has revealed some key aspects that were considered while designing the…
Reserve Bank of India Governor Shaktikanta Das said CBDC is going to be a major transformation of the way business is done — the way transactions are conducted and highlighted that RBI is among the very few central banks in the world which have taken this initiative. While addressing FIBAC…
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India’s digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is…
The Reserve Bank of India’s (RBI) Deputy Governor T Rabi Sankar has stated that the country’s upcoming Central Bank Digital Currency (CBDC) could be viewed as a tool that greatly reduces time and cost for cross-border transactions. Referring to the RBI’s ‘Digital Rupee’ project, which was announced in the Union…
The government of Nigeria is taking efforts to boost the functional capacity of its digital currency, called the eNaira. Launched as Africa’s first ever CBDC in October last year, the eNaira is now getting new features, intended to onboard unbanked citizens of Nigeria onto the nation’s existing financial system. The…
Indians are eagerly awaiting the launch of the Digital Rupee CBDC that is expected to be rolled-out for the current fiscal 2022-23. The Reserve Bank of India (RBI) has released a report stating that this CBDC will be in alignment with the country’s existing monetary policies as well as payment…
European Central Bank President Christine Lagarde called cryptocurrency ‘worthless’ during an interview. Lagarde who’s consistently had a negative stance on cryptocurrencies reiterated her view claiming they are “based on nothing” and should be strictly regulated. Lagarde further argued that investing in Bitcoin and the altcoins could leave people “terribly disappointed”…
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