Tag "central bank digital currency (CBDC)"

Digital Asset Adoption Gains Momentum With US$26 Billion in Bitcoin Transactions

Bitcoin’s recent price surge has accelerated institutional adoption of cryptocurrencies leading to institutional investor pouring an estimated US$26 billion into bitcoin over the past eight months, an analysis by SNGLR Group shows. In its second report part of the Digital

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Challenges and Opportunities of CBDC for Banks and Corporations

Central banking digital currencies (CBDCs) are poised to have significant implications for banks and non-bank firms, forcing them to adopt new approaches to processing payments and bringing about new possibilities, says consultancy firm Accenture. As part of a blog post

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BIS, Swiss National Bank and SIX Complete Pilot for Wholesale Digital Currency Project

The Bank for International Settlements’ Innovation Hub (BISIH), the Swiss National Bank (SNB) and the financial infrastructure operator SIX announced the successful completion of a joint proof-of-concept (POC) for its wholesale central bank digital currency (CBDC). Dubbed as Project Helvetia,

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New Deutsche Bank Paper Outlines Opportunities and Challenges of CBDCs

Central banks around the world are exploring the potential of digital currencies to improve monetary transactions. While so-called central bank digital currencies (CBDCs) appear to be upon us, promising many benefits including faster and cheaper transfers, they also present multiple

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New BIS Working Paper Looks at State of Central Bank Digital Currency Projects Around the World

A new working paper by the Bank for International Settlements (BIS) looks at the state of central bank digital currency (CBDC) projects around the world. According to the study, as of mid-July 2020, at least 36 central banks had published

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Interest in Central Bank Digital Currency Surging

Around the world, interest around central bank digital currency (CBDC) is surging, with an increasing number of central banks looking to issuing their own digital currencies to wholesale networks of banks, corporates, fintechs, but also the general public, according to

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Why Are 80% of Central Banks Looking into Digital Currencies?

In 2019, 80% of central banks were engaged in work related to central bank digital currency (CBDC), compared with 70% the previous year. Amongst these, 40% had progressed from conceptual research to experiments or proofs-of-concept, and 10% had developed pilot

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