Central bank digital currency
Brazilian central bank outlines CBDC project
Drex is being developed on a distributed ledger platform with smart contracts
Economic impact of CBDC likely ‘negligible’ – Colombian paper
Economists at Central Bank of Colombia consider design choices and how they may affect the economy
Russia starts digital ruble trials
Sanctioned banks are participating in CBDC pilot
Brazil’s CBDC to improve access to ‘intelligent financial services’
BCB expected to launch digital currency in 2024
Canadian CBDC would not improve inclusion, paper says
Bank of Canada research finds most citizens already have access to e-payments options
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
DeSantis attacks Federal Reserve
Republican candidate suggests he would name new Fed chair
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Digital yuan transactions growing rapidly, PBoC says
But Yi Gang notes prototype CBDC currently takes up a very small share of cash in circulation
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
New York Fed completes global digital dollar proof of concept
Wholesale CBDC project tested 24/7 payment and settlement
BIS attacks crypto in report to G20 officials
But report promotes DLT for use in cross-border wholesale CBDC
BIS reports gaps in CBDC cyber security modelling
Over 90% of central banks now working on a CBDC project, survey finds
World Economic Forum warns of CBDC ‘alliances’
Report recommends interoperability via “token switching” and common messaging standards
Nigerian central bank caps contactless payments
Move limits consumers’ daily contactless payments to $66
EC proposes legal tender status for digital euro
Legislation envisages digital wallet available on- and offline, while safeguarding cash
SNB to test wholesale CBDC in real-world pilot
Tokenised assets will be settled on the SIX Digital Exchange
Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Payments Benchmarks 2023 report – moving money in shifting conditions
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
Why fear, paranoia and distrust swirl around CBDCs
Populists and conspiracy theorists are exacerbating public concern about retail CBDCs. What can central banks do about it?
IMF’s Adrian draws ‘blueprint’ for international CBDC platform
Model would use common token, exchangeable with central bank reserves
Unified ledger could usher in ‘profound’ economic change – BIS
Hyun Song Shin describes single platform for public and private money as “game changer”