E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023

E-Rupee CBDC Said to Hit RBI Target of 1 Million Daily Transactions by End of 2023

ByNews Polite

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…

PayPal Launches US Dollar Stablecoin for Financial Payments, Transfers

PayPal Launches US Dollar Stablecoin for Financial Payments, Transfers

ByNews Polite

Payments giant PayPal said on Monday it has launched a US dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers.  While stablecoins — crypto tokens whose monetary value is pegged to a stable asset to protect from wild volatility — have been…

RBI’s CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank

RBI’s CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank

ByNews Polite

Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital…

Central Bank Digital Currency Set to Transform the Way Business Is Done, RBI Governor Says

Central Bank Digital Currency Set to Transform the Way Business Is Done, RBI Governor Says

ByNews Polite

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…