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Cambodia will launch a central bank digital currency
...tal currency was designed by the Japanese blockchain company. The company Soramitsu has developed a system that supports any type and number of currencies, including crypto. As explained by the Central Bank’s director-general Chea Serey, **the central bank digital currency (CBDC) will bring all participants in Cambodia’s payment space under the same platform which allows end-users to settl...
Path: BlogPros and cons of central bank digital currency in the view of the IMF
...nternational Monetary Fund (IMF), about 80% of central banks are exploring CBDC at some level. Last week the IMF’s Managing Director briefed the pros and cons of CBDC, below are outlined some of them. Among the advantages of adoption of central bank digital currency is the enhancement of financial inclusion because there’re is no need for consumers to have a bank account to hold CBD...
Path: Blog“Sand Dollar” pilot testing in the Bahamas
**The Central Bank of the Bahamas launched a pilot testing of a central bank digital currency (CBDC)** that was introduced on 27 December 2019. A so-called “Sand Dollar” is starting a pilot phase in Exuma, one of the districts of the Bahamas, and will extend to the Abaco Islands in the first half of 2020. The testing will allow collecting the data on the performance of the digital currency. ...
Path: BlogFirst central bank issued digital coin in the euro zone
...everyday use. The launch follows on from Facebook releasing the whitepaper for its Libra stablecoin, which has forced central banks to start seriously considering launching their own digital coins. The LBCOIN is very similar to what is known as a central bank digital currency (CBDC) putting Lithuania at the forefront of development of fiat digital currencies. CBDCs are traditional money in digi...
Path: BlogJapan and South Africa are to set new crypto regulations
...of stablecoins is now limited to trading cryptocurrencies, Facebook’s attempt to launch Diem (previously known as Libra) caught regulatory attention worldwide. Just like other top monetary regulators, the Bank of Japan is currently working on a central bank digital currency (CBDC), and the proposed regulations on the crypto industry will only complement those actions. The new unit of the FS...
Path: BlogSouth Korea is planning to establish Crypto-Focused Bureau
...w, Yuguda stated that the SEC had been in talks with the Central Bank of Nigeria (CBN) as they are preparing the launch of the forthcoming CBDC, e-Naira. Last month, the CBN drafted a series of guidelines addressing domestic banks about the Nigerian central bank digital currency project. The document is aimed to detail the design and the operational structure of the coin, which is reportedly inten...
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