Category: CBDC


Italian Payments Giant Nexi Involved in Digital Euro Project


nexiNexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam. […]


Fed Chair Powell Updates Progress of Digital Dollar, Says ‘I Don’t Think We Are Behind’ on CBDC


Federal Reserve Chairman Jerome Powell has shared the progress of the Fed’s work on a central bank digital currency (CBDC), the digital dollar. “We are working proactively to evaluate whether to issue a CBDC and, if so, in what form,” he said, adding that he does not believe the U.S. has fallen behind other countries […]








New Crypto Aims to Solve ‘Zimbabwe’s Money Problems Using Blockchain Technology’


The Zimbabwean currency’s collapse in 2008 and record hyperinflation are widely seen as textbook examples of what can go wrong with a centralized currency. For instance, some cryptocurrency enthusiasts — as well as opponents of the fiat currency system in general — have routinely pointed to the Zimdollar’s collapse when arguing for an alternative monetary […]


Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New Platform


Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New PlatformThe Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of the prospective digital lira. Turkey Sets Up Digital Lira Collaboration Platform The Central Bank […]



Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document


Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy DocumentThe launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using “money surrogates” as officials have previously called cryptocurrencies. Bank of Russia […]


Nigeria’s CBDC ‘a Safer Option’ Than Privately Issued Cryptocurrencies: Central Bank Official


As part of the Central Bank of Nigeria (CBN)’s digital currency charm offensive, Folashodun Shonubi, the institution’s deputy governor, has claimed that the country’s upcoming central bank digital currency (CBDC) will be a “safer option from privately issued cryptocurrency.” Payment System Stability In addition, the CBN’s digital currency — also known as the e-naira — […]


BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets


BIS Asks Central Banks to Urgently Develop CBDCs to Avoid Falling Behind CryptocurrenciesThe head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said. BIS Says […]


Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says


Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair SaysCryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect Mining, Taxation, Definition of Digital Currency Discussing upcoming changes in the legislation regarding digital currencies in Russia, head […]







Chinese Banks Seek New Applications for Digital Yuan in Investment and Insurance


Chinese Banks Seek New Applications for Digital Yuan in Investment and InsuranceTwo Chinese banks are expanding their pilot programs for the digital national fiat. The state-owned financial institutions have revealed they are aiming to allow digital yuan holders to acquire investment funds and insurance products using the new currency. Chinese Banks Partner With Fund Managers and Insurers in Search of Digital Yuan Use Cases China Construction […]


Central Bank of Nigeria Selects Barbados-Based Fintech Firm as Technical Partner for CBDC Project


The Central Bank of Nigeria (CBN) has named the fintech firm Bitt Inc. as a technical partner for its digital currency project, the e-naira. As a technical partner, Bitt is expected to use its “technological competence and implementation experience” to help the CBN successfully launch the central bank digital currency (CBDC). E-Naira Draft Guidelines The […]




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