CBDC

It is reported that SWIFT said in a statement on Thursday that a project operated by the company to interconnect the central bank digital currency (CBDC) has “obvious potential and value”. The project includes banks such as BNP, Intesa Sanpaolo (ISP) and Standard Chartered Bank (STAN), as well as the central banks of France and Singapore. Now it will enter the second stage and may study other applications such as trade financing and securities settlement. SWIFT said that it would continue to carry out beta testing in the next few…

According to reports, the chairman of the Federal Reserve of Australia, Lowe, said he was skeptical about the use of the central bank’s digital currency for retail payments. If the central bank digital currency (CBDC) used for retail becomes popular, the Federal Reserve of Australia will soon become a follower. Interpretation of this information: The head of the Federal Reserve in Australia, Governor Philip Lowe, has expressed skepticism about the use of Central Bank Digital Currency (CBDC) for retail payments. According to reports, Lowe believes that while CBDC has the…

It is reported that Federal Reserve Chairman Powell once again called for a clear regulatory framework for cryptocurrency. Federal Reserve Chairman Powell said that US state governments should also play an active role in the regulation of cryptocurrency. The issuance of retail central bank digital currency (CBDC) requires congressional approval. Interpretation of this information: In recent news, it has been reported that the Federal Reserve Chairman, Jerome Powell, has spoken out regarding the need for a clearer regulatory framework for cryptocurrency. During a recent public appearance, Powell highlighted that not…

According to reports, Nigel Green, CEO and founder of deVere Group, said that with the acceleration of the work of the US government on the potential CBDC, this means that the digital dollar may soon become a reality in the United States, and the reason for adopting Bitcoin has become “significantly stronger”. Interpretation of this information: The CEO and founder of deVere Group, Nigel Green, predicts that the digital dollar, or Central Bank Digital Currency (CBDC), may soon become a reality in the United States due to the acceleration of…

It is reported that according to an official statement from the Monetary and Banking Research Institute (MBRI), a research institution under the Central Bank of Iran (CBI), CBI has successfully completed the pre-pilot stage of the development of CBDC in Iran. Interpretation of this information: The latest news from the Monetary and Banking Research Institute (MBRI) suggests that the Central Bank of Iran (CBI) has completed the pre-pilot stage of its digital currency project. This is a significant development as it indicates that Iran is moving towards the digitalization of…

According to reports, Yang Wen, president of Swift China, said in an interview that CBDC was regarded as the next generation currency with great potential in cross-border transactions. CBDC can play an important role in the field of cross-border payment, but if it is to give full play to its potential, the interaction between different CBDC systems and existing non-CBDC payment infrastructure is crucial. To give full play to the potential of CBDC in cross-border transactions, the collaboration of the global financial community is another key element. The market needs…

According to reports, Olga Skorobogatova, deputy governor of the Central Bank of Russia, said on Friday that the country’s central bank digital currency (CBDC) digital ruble was ready to enter the pilot stage. The bank plans to launch a consumer pilot on April 1, 2023. The pilot will be used for point-to-point transfer between individuals and retailers, but only a few selected retailers can participate in the pilot. The source said that the bank would decide how to expand the pilot after the pilot. Interpretation of this information: The Central…

It is reported that Brazil is making progress in developing its central bank digital currency (CBDC) and designing its architecture. Roberto Campos Neto, President of the Central Bank of Brazil, recently detailed the progress made by the institution in laying the foundation for the operation of the proposed digital real currency. Interpretation of this information: The Central Bank of Brazil is making strides towards the development of its central bank digital currency (CBDC) and crafting its architecture. According to reports, the bank has been laying the groundwork for the proposed…

It is reported that the Bank of Japan will release the central bank’s digital currency pilot project in April. Uchida, a senior official of the Bank of Japan, said that the CBDC Forum will be established to invite private enterprises to participate. The central bank digital currency (CBDC) pilot will be gradually expanded. The purpose of the pilot project is to test the technical feasibility while absorbing the skills and insights of private enterprises. Interpretation of this information: The Bank of Japan has announced that it will be releasing its…