Central Bank Digital Currency

SWIFT, the global bank messaging network, plans to launch a new platform that will connect central bank digital currencies (CBDCs) to the existing finance system within the next two years. Its existing network is usable in over 200 countries and connects more than 11,500 banks and funds.

On the order of the UK Parliamentary Committee and the House of Commons, the Bank of England and the UK Treasury have analysed the benefits that could entail the launch of this CBDC. As part of the assessment, the Bank of England said CBDCs could reduce higher payment costs faced by smaller merchants among other findings.

Standard Chartered China has become the latest bank that has joined China’s CBDC pilot. This means that Standard Chartered Bank in the Asian nation will now allow its users to access the digital version of the Chinese Yuan.

The State Bank of India (SBI) announced it has implemented Unified Payments Interface (UPI) interoperability in Digital Rupee, also called as Central Bank Digital Currency (CBDC).

The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC).

Mastercard has launched a CBDC-focussed forum called the ‘CBDC Partner Program’. Crypto-related firms Ripple, Consensys, Fluency, Idemia, Consult Hyperion, and Fireblocks have been roped-in by Mastercard as the initial members of its CBDC Partner Program. The aim is to provide crypto players with a platform where they can open discussions aroun...

The Bank of Japan on Thursday kicked off a series of discussions with 60 companies on a pilot programme for developing a digital yen, joining peers around the globe ramping up efforts towards issuing digital versions of their currencies for retail use. The discussions will touch on various themes including the business and technological features of...

The largest private sector lender HDFC Bank on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform.

The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...

At present, the number of CBDC or e-rupee transactions stands at about 5,000 to 10,000 a day.

EU will publish a proposal on Wednesday that will be the legal foundation on which the ECB could launch a digital euro. The project has come under attack from the public, politicians and banks before it even exists. Critics question the need for a digital euro and banks warn of major risks.

The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. She added that CBDCs should not be fragmented national propositions and that to have more efficient and fairer transactions interoperability i...

The Reserve Bank of India (RBI) will withdraw Rs 2,000 denomination banknotes that were in circulation since 2016. The central bank mentioned several reasons that influenced its decision to withdraw the currency notes.

Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's e-Rupee platfor...

India and the UK discussed international developments regarding crypto assets at the India-UK 2nd Financial Markets Dialogue t the India-UK 2nd Financial Markets Dialogue on Wednesday. Both countries' participants at the dialogue provided updates on recent developments in their respective banking sectors. They also discussed banking trends and emer...

SWIFT, the global bank messaging network, plans to launch a new platform that will connect central bank digital currencies (CBDCs) to the existing finance system within the next two years. Its existing network is usable in over 200 countries and connects more than 11,500 banks and funds.

On the order of the UK Parliamentary Committee and the House of Commons, the Bank of England and the UK Treasury have analysed the benefits that could entail the launch of this CBDC. As part of the assessment, the Bank of England said CBDCs could reduce higher payment costs faced by smaller merchants among other findings.

Standard Chartered China has become the latest bank that has joined China’s CBDC pilot. This means that Standard Chartered Bank in the Asian nation will now allow its users to access the digital version of the Chinese Yuan.

The State Bank of India (SBI) announced it has implemented Unified Payments Interface (UPI) interoperability in Digital Rupee, also called as Central Bank Digital Currency (CBDC).

The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC).

Mastercard has launched a CBDC-focussed forum called the ‘CBDC Partner Program’. Crypto-related firms Ripple, Consensys, Fluency, Idemia, Consult Hyperion, and Fireblocks have been roped-in by Mastercard as the initial members of its CBDC Partner Program. The aim is to provide crypto players with a platform where they can open discussions aroun...

The Bank of Japan on Thursday kicked off a series of discussions with 60 companies on a pilot programme for developing a digital yen, joining peers around the globe ramping up efforts towards issuing digital versions of their currencies for retail use. The discussions will touch on various themes including the business and technological features of...

The largest private sector lender HDFC Bank on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform.

The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Currently, large state-owned and private lenders, including State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Ko...

At present, the number of CBDC or e-rupee transactions stands at about 5,000 to 10,000 a day.

EU will publish a proposal on Wednesday that will be the legal foundation on which the ECB could launch a digital euro. The project has come under attack from the public, politicians and banks before it even exists. Critics question the need for a digital euro and banks warn of major risks.

The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. She added that CBDCs should not be fragmented national propositions and that to have more efficient and fairer transactions interoperability i...

The Reserve Bank of India (RBI) will withdraw Rs 2,000 denomination banknotes that were in circulation since 2016. The central bank mentioned several reasons that influenced its decision to withdraw the currency notes.

Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's e-Rupee platfor...

India and the UK discussed international developments regarding crypto assets at the India-UK 2nd Financial Markets Dialogue t the India-UK 2nd Financial Markets Dialogue on Wednesday. Both countries' participants at the dialogue provided updates on recent developments in their respective banking sectors. They also discussed banking trends and emer...