Central bank digital currency
Cross-border CBDC challenging to deliver, officials warn
But digital currency could tackle “extremely high” remittance costs, says IMF’s Tobias Adrian
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
BIS Innovation Hub takes aim at cross-border compliance
Project Mandala will explore ‘compliance by design’ to boost efficiency of cross-border transactions
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
Carstens says lack of legal clarity on CBDC ‘unacceptable’
BIS chief warns widespread uncertainty over legal status of digital currency could impact trust
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
Retail CBDCs can promote payment competition, report finds
BIS, HKMA and Bank of Israel say project found using different service providers need not harm security
Barr says Fed will not issue CBDC without legislation
Supervision chief warns of danger of unregulated issuance of stablecoins
Vanuatu launches new automated payments network
Island nation opens interbank rails and central securities depository
RBI’s CBDC pilot has 1.5 million users, says Das
Governor says project is aiming to reach one million daily transactions by December
PBoC developing interoperable QR codes for digital yuan
Digital yuan to be available in all retail scenarios and in wholesale securities markets
Macau establishes digital currency as legal tender
New legal regime also introduces a penalty system for refusing notes and coins
Kazakhstan joins mBridge project
NBK joins cross-border CBDC project as an observer
Swift tokenisation experiments connect multiple blockchains
Banks and FMIs working towards 24/7 global asset trading settlement and servicing
Hungary’s gamified CBDC pilot designed for children
Student Safe project is the first live retail CBDC pilot in Europe
BoE study recommends ‘simple and flexible’ CBDC infrastructure
Central bank needs to be wary of firms wielding too much market power, author says
RBA says CBDC decision is likely ‘some years away’
Australian central bank says a CBDC might improve payments system but also questions its necessity
Brazilian central bank outlines CBDC project
Drex is being developed on a distributed ledger platform with smart contracts
Economic impact of CBDC likely ‘negligible’ – Colombian paper
Economists at Central Bank of Colombia consider design choices and how they may affect the economy
Russia starts digital ruble trials
Sanctioned banks are participating in CBDC pilot
Brazil’s CBDC to improve access to ‘intelligent financial services’
BCB expected to launch digital currency in 2024
Canadian CBDC would not improve inclusion, paper says
Bank of Canada research finds most citizens already have access to e-payments options
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
DeSantis attacks Federal Reserve
Republican candidate suggests he would name new Fed chair