The News Asia reported on July 13 that the Bank of Korea, together with the Korea Financial Settlement Service (KFSS), will now take over the management of Samsung-owned BankSign. In a move to digitize the country’s financial framework, the South Korean central bank has taken control over the BankSign, South Korea’s blockchain solution for the […]
A UK cryptocurrency could be a reality soon, reports The Bank of England’s governor, Andrew Bailey. In his latest statement, the governor said that the bank recently discussed the mechanisms of a probable UK cryptocurrency backed by the central bank. Central bank digital currencies, or CBDCs, are being developed by many countries. China is leading […]
Japan is another popular Asian country that is pushing through the launch of a central bank digital currency (CBDC). Reportedly, the Central Bank of Japan (BoJ) is exploring ways to initiate offline usability of Japan CBDC, due to some challenges facing the country. BoJ wants Japan CBDC available offline In the bank’s latest research report, […]
The Euro Zone is set to experience another face of central bank-issued digital currency, following a recent announcement about the Lithuania digital token. The Baltic country is looking to secure its financial spot from the likes of Facebook, by proposing a digital coin which will be issued starting from next week. Euro Zone to see […]
The annual BIS Report by Bank of International Settlements has been released, and it says that Coronavirus pandemic has accelerated the need to create central bank digital currencies. The report mentions that central banks must realize that the time to move ahead with CBDC projects has come. The COVID-19 has exposed many new cracks in […]
Facebook’s recently launched WhatsApp payments services called WhatsApp Pay has suffered a significant setback as the central bank of Brazil announces its suspension over regulatory and security concerns. For this social media giant, it is crisis after crisis with no dearth of regulatory hurdles. After frantically updating the whitepaper of its ambitious digital currency project […]
The central bank of Thailand (BOT) is nearing the complete release of its digital currency. It recently revealed plans to debut the Thailand CBDC prototype payment system. This is coming after the successful completion of its CBDC project dubbed Inthanon. BOT readies Thailand CBDC On Thursday, the bank revealed it is looking to establish a […]
A Central Bank of Canada CBDC appears to be underway if a job positing for a CBDC project manager is anything to write home about. The financial institution has been working behind the scenes to develop its native central bank digital currency (CBDC). After a job posting for the position of the projects’ manager on […]
South Korean central bank has established a panel to advise regarding the bank regarding a central bank digital currency. The Bank of Korea (BOK) has established a legal advisory group that will include both internal and external legal experts who will guide the bank in the development of a CBDC if the bank decides to […]
The central bank of Korea (BOK) has established a legal advisory group for Korea digital currency or CBDC. Although this could be defined as another step by the country in launching a national digital currency, however, the bank said it doesn’t mean they are actually preparing to launch Korea digital currency.  BOK makes yet another […]