The first Russian bank to have added the country’s central bank digital currency (CBDC) to its mobile application is VTB. The bank is currently testing the integration of the digital ruble with…
Category: Central Bank Digital Currency (CBDC)
Three Countries With Strong Economies Jointly Test CBDCs, Forex Markets May Feel The Impact
Countries with strong economies have recently carried out joint testing of the digital versions of their fiat currencies. Commonly referred to as the ‘central bank digital currencies, these are the digital versions…
Chinese Central Bank Exec Claims Digital Yuan To Offer ‘Controlled Anonymity’
Yi Gang, the governor of the Chinese central bank, gave a speech at Hong Kong Fintech Week, where he talked about the progress of the digital yuan. During the speech, the governor…
Should You Buy Stellar (XLM)?
Stellar (XLM) is a money-transfer network targeting to help global financial systems run together on one platform. Stellar had Lumens (XLM) as its native crypto. Cash transfers may cost around 6.5%, but…
Russia Is Using Cryptocurrencies to Bypass Sanctions
ECB’s head Christine Lagarde voiced her worries on the situation, considering crypto a threat to the success of sanctions against Russia for invading Ukraine. Joe Biden and his allies in Europe will…
Crypto Weekly Outlook: Regulation Concerns Rise amid Volatility
Bitcoin touched the $42K highs on 9 March when United States President Joe Biden signed the crypto executive order. For now, the currency trades beyond $39K, within its dominance hovering at 42%…
Bitcoin Will Never be a Legal Tender: India’s Finance Secretary
India’s Finance Secretary said that crypto, including BTC, will never be legal tender in India. The Finance Secretary also emphasized that crypto lacks the government’s support. Recently, India proposed 30% taxation on…
Guidelines for Central Bank Digital Currency have reportedly been issued by G7 Leaders
In recent weeks, one of the hottest and most discussed topics among the seven advanced economic nations has been CBDCs. As the world economy and its financial systems are pacing towards digitalization,…
CBDCs Threatens XLM and XRP with Faster and Cheaper Remittances Services
Briefly– CBDC pilots show the capability to reduce transaction duration and solve complex existing arrangements. Central Banks in UAE, China, Hong Kong, and Thailand under BIS (Banks International Settlements) already ventured into…
Bhutan is running its Pilot for CBDC through Ripple
Since the end of the third quarter of 2020, the world has been thinking about adopting the central bank’s digital currency (CBDC) technology. Many countries from around the world have been aiming…
The Competition For The Singapore CBDC Winner
As more governments assess the benefits of digital currency (CBDCs), they are being employed in the financial industry as a substitute for conventional digital products. For instance, since 2014, the Chinese yuan…
Ukraine Ready to Launch Test Phase for Central Bank Digital Currency
As the end of the year 2021 is closing in, several countries such as China & Russia are expediting their launch for the central bank digital currency (CBDC). In the year 2020,…
Japan Proposed New DeFi, NFT & CBDC Regulations
Japan’s Financial Service Agency (FSA) set to impose new regulations to govern the decentralized finance (DeFi)-related projects in-country. These regulations will also apply to non-fungible tokens (NFTs). The Financial Service Agency (FSA)…
Are You Prepared for the Virtual Euro?
Financial players expect ECB (European Central Bank) to announce its move to introduce a digital euro, EBDC (Central Bank Digital Currency). ECB president Christine Lagard said that the project could take almost…
