PYMNTS

JANUARY 15, 2021

Federal Reserve Chair Jerome Powell said he isn’t in a rush to adopt a central bank digital currency (CBDC) because of the risks such currencies pose to the status of the dollar, CoinDesk reported. “We We don’t feel an urge or need to be first,” he said of CBDCs, according to the report. dollar is] the reserve currency.”.

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Clearly Payments

AUGUST 24, 2024

Over 15,000 businesses worldwide accept Bitcoin payments as of 2024. According to the Bank for International Settlements (BIS), 114 central banks, representing over 95% of global GDP, were engaged in some form of CBDC research or development by the end of 2023. trillion, with Bitcoin alone accounting for over 50% of this value.

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The Fintech Times

MAY 26, 2024

Andrew Carrier , member of the executive committee at Quant “Privacy remains one of the most important discussion points in the CBDC debate, with the likes of the European Central Bank confirming that it is working on state-of-the-art security measures to ensure privacy protection.

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The Paypers

AUGUST 20, 2021

The Monetary Authority of Singapore (MAS) has announced it is planning to change how money moves across borders using Central Bank Digital Currencies (CBDC) inspired by Bitcoin.

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PYMNTS

JULY 16, 2020

In other news, Thailand’s central bank has arrived at the third step of its central bank digital currency (CBDC) formation and seeks to have greater use of the cryptocurrency by big companies, The Nation Thailand reported, citing a Bank of Thailand (BOT) official. million in bitcoin and $30,000 in U.S. million in ether, about $1.1

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PYMNTS

NOVEMBER 12, 2020

In other news, the price of bitcoin exceeded the $16,000 price level on Thursday for the first time in nearly three years, CNBC reported. Bitcoin last exceeded the $16,000 price point on Jan. The price of the cryptocurrency was $16,301.03 as of 7:17 p.m. “The

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PYMNTS

NOVEMBER 2, 2020

In other news, the Reserve Bank of Australia (RBA) is exploring the potential of a central bank digital currency (CBDC), in partnership with the National Australia Bank , Commonwealth Bank , Perpetual Limited and ConsenSys Software , the bank announced in a press release. RBA expects to finish the project at the end of this year.

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PYMNTS

JUNE 15, 2020

Korea’s central bank has rolled out a legal advisory group to look at potential challenges to bring a central bank digital currency (CBDC) to fruition, The Korea Times reported. The panel’s start is a portion of the first stage for the Bank of Korea’s (BOK) plan to create a CBDC.

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PYMNTS

OCTOBER 28, 2018

Benedict Chan, CTO of BitGo, called the token “the best of both worlds,” adding that it has both “the stability of bitcoin and the flexibility of ethereum.”. And days after crypto exchange Unocoin launched India’s first bitcoin ATM in Bengaluru, the city’s cybercrime police seized the machine and arrested the company’s co-founder Harish BV.

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PYMNTS

JANUARY 14, 2021

Bitcoin is about to get even more scrutiny by regulators, on a global stage. As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide. The comments come against a backdrop where bitcoin’s price action has been volatile — to put it mildly.

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PYMNTS

MAY 13, 2020

The Bank of Mauritius is progressing toward providing a central bank digital currency (CBDC) per its governor, CoinDesk reported. The island’s study into a CBDC was reportedly first revealed by Yandraduth Googoolye, a prior governor. The two exchanges work with digital currencies, including ether, litecoin and bitcoin.

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PYMNTS

DECEMBER 22, 2020

The experiments aim to examine a digital euro’s technical feasibility as well as its “programmability” as a coin separate from a central bank digital currency, (CBDC) according to CoinDesk. The European Central Bank has been a vocal supporter of a digital euro, advocating for a CBDC.

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PYMNTS

NOVEMBER 17, 2020

Bitcoin is briskly getting close to the peaks that brought about a crypto madness and concluded with a dramatic market downfall nearly three years prior, Bloomberg reported. Digital currency enthusiasts have been witnessing bitcoin rise all year, and a number of them are targeting the December 2017 high of nearly $20,000.

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PYMNTS

OCTOBER 14, 2020

For its part, the Bank of Russia recently put forward a report on a possible central bank digital currency (CBDC) rollout. In separate news, public firms have nearly $7 billion in bitcoin holdings, Cointelegraph reported. MicroStrategy reportedly has 38,250 bitcoin, while Galaxy Digital reportedly manages 16,551 bitcoin.

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Caps Bitcoin Digital Currency Central Bank 56

PYMNTS

JANUARY 20, 2020

As part of those efforts, the lab is being used to explore “whether there is a role for a digital Australian dollar — that is, an Australian [central bank digital currency (CBDC)] — in the context of the bank’s responsibilities for issuing the currency and overseeing the payments system.”. The language is interesting — and noteworthy.

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Fintech Review

APRIL 24, 2024

Distinct from decentralised cryptocurrencies such as Bitcoin , CBDCs are centralised and backed by government authorities. Fintech Review delves into the characteristics of CBDCs, examining their potential benefits, and addressing the complexities they introduce to the global financial system. The post What are CBDCs?

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Central Bank CBDC Cross-Border Payments Cross-Border 91

PYMNTS

DECEMBER 18, 2020

In other CBDC efforts, as reported in the fall , China’s central bank issued 10 million yuan ($1.5 Such central bank efforts toward CBDC might soon get a helping hand. This week, FinTech EMTECH said it’s launching a compliance platform in collaboration with Microsoft to help central banks test their respective CBDCs.

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PYMNTS

DECEMBER 6, 2020

Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. Speaking with David Rubenstein at a Bloomberg event on Friday (Dec.

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PYMNTS

APRIL 7, 2020

In other news, Bank of England (BoE) analysts at work on the central bank digital currency (CBDC) have said that private firms could potentially have a much more significant role when it comes to the distribution and issuance of money, CoinDesk reported, citing a webinar.

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PYMNTS

MARCH 22, 2019

Agustin Carstens, the general manager at the Bank for International Settlements , said that banks shouldn’t issue their own bitcoin-like tokens because it could undermine global financial stability, as well as monetary policy, according to a report by Bloomberg. A move like this could potentially undermine the whole system, he said.

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PYMNTS

NOVEMBER 23, 2020

Bitcoin rose above $18,000 last week for the first time since Dec. Bitcoin skyrocketed, profits were taken, profits went back into altcoins,” which are more volatile than bitcoin, Joseph Edwards , head of research at crypto brokerage Enigma Securities, told Reuters. 12, CoinDesk reported , citing The Paper.

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PYMNTS

MAY 20, 2020

The institution noted per the report that it tried out a central bank digital currency (CBDC) sale of securities in mid-May. is reportedly in discussions regarding growing in Ghana as well as Kenya to broaden its presence in Africa as bitcoin surged over the last two months during the pandemic, Bloomberg reported.

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PYMNTS

APRIL 7, 2020

In other news, Bank of England (BoE) analysts at work on the central bank digital currency (CBDC) have said that private firms could potentially have a much more significant role when it comes to the distribution and issuance of money, CoinDesk reported, citing a webinar.

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Digital Currency CBDC Blockchain Central Bank 52

PYMNTS

JUNE 19, 2020

The Bank of Thailand plans to work on a new payment system for businesses using Central Bank Digital Currency (CBDC), according to a press release , which will be a step toward readying the business sector for the digital age. The release says the step will help CBDC reach wider audiences, beginning with corporate entities.

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PYMNTS

DECEMBER 13, 2020

Three top Chinese companies have now joined the fray of the country’s central bank digital currency (CBDC) trials, CoinDesk reports. China has been working toward putting out a CBDC, with the People's Bank of China working on gauging user experience through partnership with banks and businesses.

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PYMNTS

OCTOBER 9, 2020

Beyond bitcoin – that marquee name of crypto and its brethren, which have yet to escape wild price swings and speculative fervor – lies the prospect of CBDCs. India, according to reports earlier this fall, is mulling a ban on cryptos in general, but may indeed look more deeply into a CBDC.

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PYMNTS

SEPTEMBER 3, 2018

Japanese eCommerce company Rakuten is planning to acquire the cryptocurrency exchange service called everybody’s bitcoin Inc., and everybody’s bitcoin parent company Traders Investment, Inc. According to Rakuten, everybody’s bitcoin started as a crypto exchange service in March of 2017. according to an announcement.

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Bitcoin Blockchain Acquirers Posting 41

PYMNTS

FEBRUARY 21, 2020

Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb. CBDCs are a digital form of traditional money issued and governed by a country’s central bank.

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Central Bank Digital Currency CBDC Online and Mobile Banking 105

PYMNTS

DECEMBER 12, 2019

Yao’s hiring was anticipated because of his contribution to the development of the central bank digital currency (CBDC) and his deep understanding of FinTech and blockchain, according to Caijing. The new team would follow a model similar to Square Crypto, a bitcoin-focused entity separate from Dorsey’s FinTech unicorn Square. .

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PYMNTS

MAY 27, 2020

As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC). He pointed to the concept of synthetic central bank digital currencies ( CBDC ).

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Central Bank Digital Currency CBDC Settlement 57

PYMNTS

JANUARY 20, 2020

As part of those efforts, the lab is being used to explore “whether there is a role for a digital Australian dollar — that is, an Australian [central bank digital currency (CBDC)] — in the context of the bank’s responsibilities for issuing the currency and overseeing the payments system.”. The language is interesting — and noteworthy.

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CBDC Retail Payments Central Bank Digital Currency 40

PYMNTS

JUNE 24, 2020

In other news, the oldest central bank globally, Riksbank of Sweden, has examined the feasibility of central bank digital currencies (CBDC) and found the pros and cons between different models, CoinDesk reported.

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PYMNTS

MAY 22, 2020

The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. . The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces.

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Digital Currency Cross-Border Settlement Bitcoin Central Bank 56

PYMNTS

APRIL 6, 2020

In other news, the Bank of Korea (BOK) has rolled out a new experimental effort for a central bank digital currency (CBDC), CoinDesk reported. The group allegedly invested only $10 million into digital currencies, and the remainder reportedly went to the founders.

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PYMNTS

APRIL 24, 2020

China is the first country to launch a central bank digital currency (CBDC) or digital currency electronic payment (DCEP). The digital yuan is structured using a central bank-issued CBDC for commercial banks and a commercial bank-issued CBDC focused on the public.

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CBDC Digital Currency Stablecoins Central Bank 83

PYMNTS

MAY 22, 2020

The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. . The OMFIF seeks to create connections between the traditional banking and cryptocurrency spaces.

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PYMNTS

FEBRUARY 25, 2020

But while NBU had been exploring that idea as far back as 2016, tests among a limited number of participants revealed no discernible advantage to using a CBDC. At the conference, ideas about digital currencies were discussed, according to Coindesk. The tests did not rule out an alternative decentralized model, however.

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