US Federal Reserve Focuses on International Swap Lines to Boost Dollar Liquidity
The United States Federal Reserve is taking more steps to help stabilize the economy, with the nation’s central bank coordinating action with other central banks. In a press release issued on March 19, the Federal Reserve stated that it was working with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.
Cointime News Wrapup-Afternoon Version: Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows
A new study shows that payments via CBDCs are expected to reach $213 billion annually by 2030.
Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. Research and market intelligence firm Juniper Research published a report on central bank digital currencies (CBDCs) Monday. (Bitcoin.com)
Nigerian Central Bank Unveils Open Banking Guidelines
The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security across the open banking system.”
Central Bank of Bolivia Selling Dollars Directly to Citizens As Devaluation Fears Rise
The Central Bank of Bolivia is executing extraordinary measures to supply its internal market with foreign currency. On March 6, the monetary institution announced that it would start selling dollars to the citizens directly, adding its action to the established traditional currency exchange market.
Australia’s Central Bank Taps Mastercard and Others to Test CBDC Use Cases
The Reserve Bank of Australia has revealed a set of projects that will develop use cases for a digital dollar, the eAUD, during its testing phase, currently underway.
G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor
The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. Reserve Bank of India (RBI) Governor Shaktikanta Das talked about cryptocurrency during a media briefing Saturday following the G20 meeting of finance ministers and central bank governors in Bengaluru. (Bitcoin.com)
New Research Shows Bitcoin Must Tap Into $1 Trillion Central Bank Liquidity to Overcome Bears
A report by QCP Capital has predicted that BTC’s price can soar even higher if it can leverage the $1 trillion liquidity injected by global central banks. The report titled “The Crypto Circular” noted that central banks led by the Bank of Japan (BoJ) and the People’s Bank of China (PBoC) have injected $1 trillion worth of liquidity in the last three months.
Central Bank of Brazil to Test Security and Transaction Privacy Levels of the Digital Real
The Central Bank of Brazil will focus its first digital real tests on determining the levels of privacy and security that can be achieved with the proposed central bank digital currency (CBDC) infrastructure. The tests will be conducted later this year and will set up a simplified operation to transact with a still-to-be-determined tokenized asset.
Laos Central Bank Partners with Soramitsu on its CBDC Project
Payment Systems Department, Bank of the Lao PDR and Soramitsu signed a Memorandum of Understanding (MOU) to launch CBDC Proof of Concept on February 6, 2023
