Fintech
ECB invites entrants for wholesale ‘digital euro’ trial
CBDC work in 2024 will test Banque de France, Bank of Italy and Bundesbank DLT solutions
BoJ’s CBDC designed to hold ‘minimum’ amount of user data
Offline solutions deemed to pose too great a risk of double spending and counterfeiting
Palau to launch national stablecoin after ‘successful’ pilot
Digital currency will be pegged to US dollar and backed by finance ministry
Basel Committee to consult on stablecoin capital requirements
Feedback also sought on interest rate risks and G-Sib “window dressing”
Digital yuan pilot announced between China and Singapore
Central banks to co-ordinate on green finance as MAS-CSRC staff exchange programme resumes
BIS, World Bank and IMF to collaborate on tokenisation project
Digitisation of notes will facilitate transfer of development money to emerging economies
Solomon Islands launches CBDC pilot with Soramitsu
Prime minister says launching a CBDC could promote financial inclusion in the island nation and reduce transaction costs
Small Swiss city accepts invoice payments in bitcoin and tether
Crypto accepted for taxes, fines and services, regardless of the amount
Crypto, trade and environmental crime among AML/CFT risks – IMF
Staff propose increasing country assessments to twice per year
BIS says CBDC can be monitored without personal information
Project Tourbillon dashboard allows aggregate-level monitoring
Korea plans to run a CBDC pilot next year
Bank of Korea and financial regulators plan to involve 100,000 citizens in a real-world CBDC pilot in Q4
ECB prioritises IT outsourcing and cyber resilience supervision
Institutions lost $161 million due to poor-quality outsourced services in 2022
Carstens says ‘quantum leap’ needed to overcome legacy systems
BIS chief says tokenisation, CBDC and unified ledgers could ‘democratise’ finance
IMF launches CBDC handbook
More data and methodologies needed to understand impact of all new means of payments
Visa and Mastercard power Kazakhstan’s CBDC debit cards
Digital tenge also designed to ensure “targeted and efficient government spending”
MAS to test “live” wholesale CBDC next year
Central bank chief Ravi Menon backs CBDCs, stablecoins and tokenised bank liabilities as digital money
No stablecoin has always been able to maintain parity – paper
Authors warn there is no guarantee that issuers can redeem stablecoins on demand
CBDCs could challenge foundations of monetary economics, says Tombini
BIS Americas chief thinks digital currencies could co-exist with other rapid payment systems
ECCB preparing to launch ‘DCash 2.0’
Timothy Antoine says central bank digital currency could help ‘bridge the financial inclusion gap’
BoE wants stablecoins fully backed with central bank deposits
Systemic stablecoins would have to back issuance with unremunerated deposits
SNB to launch live wCBDC pilot in December
ECB’s wholesale digital euro exploratory work will start in 2024