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India mulls cross-border CBDC interoperability system
28.8.2024
RBI Governor Shaktikanta Das advocates a plug-and-play system to enhance cross-border payment efficiency and CBDC interoperability
Cross Border CBDC Project Mbridge Enters MVP Stage
7.6.2024
Project Mbridge, the cross-border central bank digital currency (CBDC) project that seeks to integrate several currencies into a global network, has reached its minimum viable product stage. This means that each one of the participant central banks has deployed a validating node in the network...
SWIFT China President Wen Yang on Overcoming Barriers in CBDC Systems
17.5.2024
SWIFT China President Wen Yang discusses the challenges and solutions for cross-border CBDC interoperability and initiatives to bridge the technological gaps between different CBDC systems.
The post SWIFT China President Wen Yang on Overcoming Barriers in CBDC Systems appeared first on Cryptonews
UAE and China Complete First $13.6M Cross-Border CBDC Transaction
2.2.2024
The United Arab Emirates and China have executed their first cross-border central bank digital currency (CBDC) transaction valued at $13.6 million using digital dirham and digital yuan. According to People.cn, the 50-million-dirham ($13.6 million) transaction occurred via the m-CBDC Bridge platform...
41% of Central Banks Expect to Have Operational CBDCs by 2028 — Study
26.12.2023
Some 41% of central banks that participated in the Official Monetary and Financial Institutions Forum (OMFIF) study said they expect to have an operational central bank digital currency (CBDC) by 2028. The survey found that the sentiment towards CBDCs is turning positive with 30% of the respondents...
Chinese Bank Seals First-ever Cross-border CBDC-powered Precious Metals Deal
21.12.2023
Source: pla2na/Adobe The Bank of China has completed the world’s first cross-border CBDC-powered precious metals deal – a gold transaction worth some $14.1 million. Per the Shanghai Securities News and the China Securities Network, the deal involved the Shanghai Branch of the Bank of China,...
China Links Digital Yuan to ‘World’s Biggest Commodities Market’
27.11.2023
Source: kitti/Adobe A state-owned Chinese bank will link the digital yuan to the “world’s biggest small commodities market” via the latter’s payment platform. Per the People’s Daily, the new “cross-border” CBDC drive is the brainchild of the Bank of China and the city of Yiwu. Not to be confused...
BIS and Central Banks of France, Singapore and Switzerland Successfully Test Cross-Border CBDC Using DeFi
28.9.2023
The Bank for International Settlements (BIS) and central banks of France, Singapore, and Switzerland have jointly announced a successful test of cross-border trading and settlement for wholesale central bank digital currencies (wCBDCs).
This test incorporated innovative decentralized finance...
Belarus Prepares to Launch ‘Cross-Border’ CBDC – Russia’s Digital Ruble an Inspiration?
8.8.2023
Belarus is set to follow suit with Russia’s CBDC development plans – and plans to launch a digital version of the Belarusian ruble for use in “cross-border” payments.
Per Minsk-Novosti and Interfax, the National Bank of the Republic of Belarus (NBRB) has earmarked the launch of CBDC as one of...
India negotiates cross-border CBDC payments with global central banks
5.7.2023
The CBDC should enhance the country's potential for foreign trade with nations that lack U.S. dollar reserves
India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions
16.3.2023
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency...
S Korea Claims Cross-border CBDC Success, Chinese Bank Chief Says e-CNY Will Boost Trade
7.11.2022
East Asia could become the central bank digital currency world’s center of gravity – with major cross-border functionality advances on the cards in China and South Korea.
In South Korea, the central Bank of Korea (BOK) has claimed that its “second phase” of pilots has now been “successfully...
Cross-Border CBDC Payments Are 'Viable,' Says Report From Central Banks of Australia, Malaysia, Singapore and South Africa
22.3.2022
The tool to enable paying using different assets, tested by Australia, South Africa, Singapore and Malaysia, is the latest foray into trialling the applications of central bank digital currencies
Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial
9.12.2021
Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms....
France and Singapore pilot cross-border CBDC transactions
8.7.2021
The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs
BIS joins France and Switzerland's central banks on cross-border CBDC project
10.6.2021
The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies