CBDC

Expert: China’s Digital Yuan Will Target the Dollar, Not Bitcoin

Having learned what it needs from the cryptocurrency space and blockchain, China will aim to rival the U.S. dollar, not Bitcoin (BTC), with its highly-anticipated digital yuan. Matthew Graham, a veteran investment banker in China and the CEO of Beijing-based Sino Global Capital — analyzed what is known so far about the forthcoming digital currency …

Expert: China’s Digital Yuan Will Target the Dollar, Not Bitcoin Read More »

Tether: Challenging the USD’s Hegemony, Championing CBDC and Beyond

In 2008, a momentous occasion took place with the release of the Bitcoin (BTC) white paper. With author Satoshi Nakamoto explicitly calling for the deconstruction of financial intermediaries, regulators around the world were put on alert, particularly as Wall Street faced one of its biggest crises since the 1930s. While Bitcoin’s lack of a stable …

Tether: Challenging the USD’s Hegemony, Championing CBDC and Beyond Read More »

What Recent Developments in the Fintech Space Mean for Our Future

The fintech industry has been changing rapidly. Digital assets, distributed ledger technology and central bank digital currencies are gaining momentum. Multi-trillion-dollar United States Federal Reserve System money creation has increased demand for digital assets, particularly Bitcoin (BTC). Banks, brokers, commercial lenders, investment advisors, private investment funds, family offices, mutual funds, fintech entrepreneurs, lawmakers and private …

What Recent Developments in the Fintech Space Mean for Our Future Read More »

Not Like Before: Digital Currencies Debut Amid COVID-19

Famed currency speculator George Soros, who in 1992 broke the Bank of England to emerge a billionaire overnight by forcing the pound out of the European Exchange Rate Mechanism, believes: “We will not go back to where we were when the pandemic started. That is pretty certain. But that is the only thing that is …

Not Like Before: Digital Currencies Debut Amid COVID-19 Read More »

Regional CBDCs Can Fuel International Trade, but USD Seems Unbeatable

As central bank digital currencies continue to be researched and tested by countries across the globe, it becomes more apparent that the United States dollar’s reign might be challenged once the concept is implemented on a regional scale. While most retail CBDCs focus on internal economic matters, some projects aim to facilitate trade relations within …

Regional CBDCs Can Fuel International Trade, but USD Seems Unbeatable Read More »

Sweden’s Central Bank Releases 98-Page ‘Economic Review’ Devoted to CBDC

Sveriges Riksbank, Sweden’s central bank, took a 98-page deep dive into central bank digital currencies, or CBDCs, referencing the country’s own such asset — the e-krona.  “The second issue of Sveriges Riksbank Economic Review in 2020 has a special theme, namely central bank digital currencies (CBDC) and the e-krona,” Riksbank’s June 18, 2020 report said in …

Sweden’s Central Bank Releases 98-Page ‘Economic Review’ Devoted to CBDC Read More »

Bank for International Settlements Calls CBDCs a Potential ‘Sea Change’

In advance of its coming annual report, on June 24 the Bank for International Settlements released a special chapter from that report on digital payments — especially central bank digital currencies, a topic that’s attracted tremendous interest in recent months. The report encourages central banks to treat CBDCs as their future, saying: “One option at …

Bank for International Settlements Calls CBDCs a Potential ‘Sea Change’ Read More »

Italian Banking Association Ready to Accept Digital Euro

The Italian Banking Association (ABI) has revealed it would be willing to support the implementation of a digital currency from the European Central Bank. According to a June 28 update on the ABI website, the association had approved guidelines governing its position on digital currency and central bank digital currencies (CBDCs).  The ABI—representing a group …

Italian Banking Association Ready to Accept Digital Euro Read More »

Digital Yuan’s Backend Development Complete, Says Chinese Official

The former vice-chair of the People’s Bank of China’s Na­tional Coun­cil for So­cial Se­cu­rity Fund, Wang Zhong­min, announced that China has completed the backend architecture development of China’s central bank digital currency (CBDC). Wang made the announcement during the online 2020 Fin­tech Fo­rum organized by Ten­cent Fin­tech Re­search In­sti­tute and the Fin­tech 50 Fo­rum in …

Digital Yuan’s Backend Development Complete, Says Chinese Official Read More »

Bank of Thailand Launches Digital Currency Pilot Project

The Bank of Thailand announced that it plans to develop a prototype to test real-life business use cases of its central bank digital currency (CBDC). The bank said in its official statement that before it launches the CBDC payment system for all businesses, it plans to test it with large-scale enterprises.  They have partnered with …

Bank of Thailand Launches Digital Currency Pilot Project Read More »