President of Bank of Brazil Shows 'Open Finance' Digital Real Concept Featuring Stablecoin Integration and Payments Functionality
Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open finance,” showing a “super app” that featured PIX (a payments network) functionality, and also integration with other stablecoins already available.
Ukraine Considering CBDC That Can Facilitate Crypto Trading
The National Bank of Ukraine is considering a future electronic version of the Ukrainian hryvnia that can facilitate virtual asset exchange, issuance and other operations.
National Bank of Ukraine Releases Draft Concept for Digital Hryvnia
The National Bank of Ukraine (NBU) has introduced a draft concept for its central bank digital currency (CBDC) candidate digital hryvnia, or e-hryvnia.
Nigeria Seeks Distinction Between Digital Assets and Crypto
Nigeria seeks to advance digital asset trading in the country, but like some countries in Asia, it is drawing a distinction between digital assets — which can be broadly defined and may include central bank digital currencies (CBDCs), non-fungible tokens (NFTs) and privately issued stablecoins — and cryptocurrencies, according to a Bloomberg report. (forkast)
With the CBDCs, a New World Monetary Order Could Emerge, Which Will Not Please America
China hopes to put an end to the domination of the American dollar over the physical world via the digital world.
Japanese Digital Yen Pilot to Begin ‘in Early 2023’
The Japanese central bank could begin piloting the digital yen as early as spring 2023 and will reportedly start a trial involving “consumers and private sector companies.”
BIS Report Finds Uneven Progress, Differing Motivations in African CBDC Adoption
Mobile money has been a strong competitor to central bank digital currency (CBDC) in Africa, but many of the continent’s central bankers have greater faith CBDC, according to a Bank for International Settlements (BIS) report <a href="https://www.bis.org/publ/bppdf/bispap128.htm" target="_blank">published</a> Nov. 24. African central bankers also saw greater utility in CBDC for implementing monetary policy than bankers in other parts of the world, according to the BIS.
Bank of Japan to Run CBDC Experiments With Country's Megabanks: Report
The Bank of Japan (BoJ) has planned experiments on a digital yen with three megabanks and regional banks in the country, Nikkei reported on Wednesday.
Bank of England Deputy Governor Weighs In on Crypto Regulation
While speaking at a conference in Coventry, Sir Jon Cunliffe, the Deputy Governor of the Bank of England, weighed in on regulations for cryptocurrency. The official initially intended to speak about stablecoins and Central Bank Digital Currency (CBDC). Instead, he shared his thoughts on the broader crypto industry after recent events.
US Banks Are Teaming Up To Explore the Possibilities of a Digital Dollar With the Federal Reserve
As the cryptocurrency industry reels under the recent FTX implosion, financial institutions are teaming up to create a digital asset settlement platform using DLT technology.
