Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies

September 19, 2024 Bitcoin.com

New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and […]

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to 0M: Report

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Australia’s central bank launches 3-year program for wholesale CBDC

September 18, 2024 Coin Telegraph

Australia

RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present.

The Reserve Bank of Australia (RBA) says it won’t be pursuing a retail CBDC anytime soon, but instead, it will focus its efforts on launching a wholesale CBDC.

In a Sept. 18 speech at the Intersekt Fintech Conference in Melbourne, RBA Assistant Governor Brad Jones presented the Australian central bank’s three-year roadmap, which focuses largely on the development of a wholesale CBDC.

Jones said the RBA’s research had found a retail CBDC offered little in the way of genuine innovation for public use in Australia, whereas a wholesale CBDC would offer several key advantages to commercial and central banks.

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

September 16, 2024 Bitcoin.com

Bank of Russia

The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by this deadline, with smaller institutions following later. The initiative seeks to enhance payment efficiency and reduce costs, with retailers also […]

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Swift Unveils Plan to Integrate Digital Assets and Currencies Into Global Payment Network

September 15, 2024 Bitcoin.com

bitcoin.com

Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re paving the way towards real-world solutions that will enable our members to access and transact with regulated digital assets and […]

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

North Carolina resists the CBDC tide with new payments ban

September 13, 2024 Coin Telegraph

CBDC

A new law in North Carolina seeks to ban CBDCs in the state, but there are questions about whether the new legislation is even legal.

Privacy and sovereignty concerns over central bank digital currencies (CBDCs) mean that a digital dollar won’t be coming to the US state of North Carolina anytime soon.

On Sept. 9, the state’s Senate overrode the governor’s veto and passed into law a bill that forbids the state from accepting CBDCs as a form of payment.

The bill also prohibits the United States Federal Reserve from conducting any “testing” of a digital dollar in North Carolina.

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals

September 11, 2024 Bitcoin.com

China’s Digital Yuan Nears Trillion in Transactions, PBOC Official Reveals

Bank for International Settlements

China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of […]

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Accenture invests in Emtech to strengthen CBDC, fintech solutions

September 10, 2024 Coin Telegraph

Accenture

The deal will see Emtech’s CBDC solutions and its regulatory and compliance sandboxes integrated into Accenture’s offerings.

Information and financial technology services company Accenture has invested in fintech startup Emtech, which provides software-as-a-service to central banks and fintech companies. Accenture plans to integrate Emtech products into its core banking services.

Emtech was founded in 2019 by former IBM Blockchain executive Carmelle Cadet. It counts seven central banks — those of Ghana, Nigeria, the Republic of Guinea, Liberia, Sierra Leone, The Gambia and the Bahamas — among its clients. It also created a central bank digital currency (CBDC) proof-of-concept for the Bank of the Republic of Haiti.

In addition to the infrastructure for CBDC, Emtech offers a regulatory sandbox feature and is developing a compliance feature for financial service providers. Emtech states that it has over 200 fintech clients. Cadet said in a statement:

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Moscow Exchange Opts out of Russia’s Crypto Trading Program

September 9, 2024 Bitcoin.com

bitcoin.com

The Moscow Exchange (MOEX), Russia’s largest securities marketplace, will not participate in an experimental program for cryptocurrency trading, as confirmed by Nikolai Trunichkin, head of digital projects at the exchange. This decision follows the Russian State Duma’s July approval of a legislative package to legalize digital currencies, allowing exchange trading under the oversight of the […]

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Russia Expands Digital Ruble Pilot With New Features: Widespread Use Expected in 2025

September 9, 2024 Bitcoin.com

Bank of Russia

Russia’s central bank is expanding its digital currency pilot program, involving 9,000 individuals and 1,200 companies. New features for the digital ruble, including payments via QR code, will be tested. Full-scale implementation is expected by late 2025. According to officials, demand for the digital ruble is growing, with successful integration anticipated due to ongoing sanctions. […]

Cantor Fitzgerald agreed to acquire 5% stake in Tether for up to $600M: Report

Russian Economy Sees Growth Despite Western Sanctions and Declining Imports

September 2, 2024 Bitcoin.com

bitcoin.com

The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military manufacturing, saw a 3.3% increase in July, and the GDP growth rate for the first half of the year reached 4.6%, compared to 1.8% in […]

Central Bank