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Hong Kong to Start Testing Digital Currency in Coming Months

Hong Kong to Start Testing Digital Currency in Coming MonthsChina’s special administrative region of Hong Kong is going to trial а digital version of its dollar as early as this year, in preparation for eventual roll-out. The territory is trying to catch up with those that are already launching central bank digital currencies, including the People’s Republic with its digital yuan project. Trials of […]

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China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level

China to Expand Digital Yuan Testing in Pilot Cities to Provincial LevelChina’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces […]

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Norway Releases Source Code for Digital Krone Sandbox, Utilizes Ethereum Technology

Norway Releases Source Code for Digital Krone Sandbox, Utilizes Ethereum TechnologyA crypto company working with the central bank of Norway has published the source code for the sandbox created to trial the digital version of the Nordic nation’s fiat currency. The prototype digital krone is being built on the Ethereum network and the regulator wants to test various technologies and evaluate the potential impact on […]

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Russia’s Tech Giant Rostec to Test Digital Asset Payments in International Trade

Russia’s Tech Giant Rostec to Test Digital Asset Payments in International TradeRussia’s leading technology company, Rostec, is working on a project to integrate digital assets into cross-border trade. The state-owned corporation says the market is interested in cryptocurrency payments which can reduce sanctions pressure on Russian exporters and importers. Rostec Eyes Russky Island for Trials of Digital Currency Payments The largest Russian industrial and technology conglomerate, […]

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Sanctioned Russian Bank Tests In-app Operations With Digital Rubles

Sanctioned Russian Bank Tests In-app Operations With Digital RublesA Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital ruble transactions processed through its mobile app. The state-owned Promsvyazbank was one the institutions placed under Western sanctions earlier this year in connection with Moscow’s actions in Ukraine. Russian Bank Experiments With Digital Ruble Transfers via Mobile Application […]

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Russia Developing Sandbox for Cross-border Crypto Payments

Russia Developing Sandbox for Cross-border Crypto PaymentsAn institute facilitating Russian exports is now working on the establishment of a sandbox for international crypto payments, local media reported. The goal is to identify potential regulatory and technological challenges for settlements with digital assets. Russia Prepares to Test Crypto Payments for Exports in Dedicated Sandbox The Russian Export Center (REC), which is a […]

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Bank of Russia Steps Up Efforts to Issue Digital Ruble Due to Sanctions

Bank of Russia Steps Up Efforts to Issue Digital Ruble Due to SanctionsThe Central Bank of Russia (CBR) has accelerated the development of its digital ruble in response to Western sanctions. The monetary authority now intends to pilot transactions with the new version of the national fiat in early 2023 instead of 2024, as originally planned. CBR to Launch Transactions, Smart Contracts With Digital Ruble as Early […]

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Eurosystem Seeks Providers of Prototype Payment Solutions for Digital Euro

Eurosystem Seeks Providers of Prototype Payment Solutions for Digital EuroEurozone’s monetary authority, the Eurosystem, is looking to enlist financial companies willing to develop front-end solutions for the digital euro. The plan is to carry out a “prototyping exercise” this year to test transactions to the back-end developed by the regulator. Eurosystem to Select Front-End Providers for Digital Euro Project Within the ongoing investigation into […]

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Bank of Russia to Pilot Digital Ruble Settlements in 2023

Bank of Russia to Pilot Digital Ruble Settlements in 2023Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions. Russia to Trial Digital Ruble in Settlements, International Payments The full launch of the […]

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