News

Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience

Coins Legend February 24, 2023 0

More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency.

Finance News

US Lawmaker Launches CBDC Anti-Surveillance State Act to Protect Americans’ Right to Financial Privacy

Coins Legend February 24, 2023 0

U.S. Congressman Tom Emmer has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act “to halt efforts of unelected bureaucrats” from “stripping Americans of their right to financial privacy.” The bill also prohibits the Federal Reserve “from issuing a CBDC directly to anyone.” CBDC Anti-Surveillance State Act Introduced U.S. Congressman Tom Emmer

Finance News

Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year

Coins Legend February 22, 2023 0

The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and to include private businesses […]

Finance News

UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives

Coins Legend February 14, 2023 0

On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the research and development of a central bank digital currency (CBDC) designed to address both cross-border payments and domestic […]

Finance

CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible

Coins Legend August 4, 2022 0

Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among other options, are “problematic.” ‘Holy Grail’ of Cross-Border Payments in Reach Through CBDC,

News

Report: Taiwan’s Central Bank May Need 2 Years to Complete Work on CBDC

Coins Legend June 30, 2022 0

Taiwan’s central bank is yet to conclude work on its central bank digital currency (CBDC) and according to the bank’s governor, the institution may need two more years to finish its work, a report has said. Some of the bank’s next tasks include winning the public’s support, ensuring the system is stable, and building the […]

Market updates

CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor

Coins Legend June 26, 2022 0

The governor of the Central Bank of Nigeria (CBN) has insisted the recently introduced e-naira digital currency can potentially boost trade and investment activities in the country. He added the digital currency “would be necessary in the future to ensure Nigeria is competitive as the world becomes increasingly digital.” CBDC Gateway to Digital Economy The […]

News

Digital Real Will Be Used by Banks in Brazil as Collateral to Issue Their Own Stablecoins

Coins Legend June 7, 2022 0

The Brazilian central bank digital currency (CBDC), the digital real, will be more of a wholesale asset instead of a public retail-focused token, according to statements from the president of the Central Bank of Brazil, Roberto Campos Neto. Campos Neto indicated that private banks in the country will be able to issue their own stablecoins […]

Regulation

105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows

Coins Legend June 6, 2022 0

There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch). 105 Countries Are Exploring CBDCs The Atlantic Council’s Geoeconomic Centre has released a major update to its Central Bank Digital Currency (CBDC) Tracker. According to

News

SWIFT Is Experimenting With Decentralized Technologies to Allow CBDC Interconnection

Coins Legend May 22, 2022 0

SWIFT, the interbank payments protocol and messaging system, has announced it is working to connect the different central bank digital currency (CBDC) protocols in development today. The company has partnered with Capgemini, a digital services provider, making a series of experiments to ensure that the new set of CBDCs have cross-border payments and remittance