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What is the Digital Assets Platform Being Discussed by the BRICS Group?
The BRICS group is considering the creation of a digital assets platform to reduce reliance on US dollars for international transactions. President Putin has expressed his support for this initiative, emphasising that digital currencies could benefit not only BRICS nations but also other developing economies.
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What is the ‘REDI’ Framework for CBDC Adoption Suggested by IMF
The IMF's REDI framework—comprising regulation, education, design and deployment, and incentives—highlights the importance of fostering awareness and understanding of Central Bank Digital Currencies (CBDCs). In alignment with insights from global financial experts, an IMF report emphasizes that enhancing knowledge about CBDCs is essential for p...
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Central Bank Digital Currency Momentum Shows Growth, Study Shows
The research by the US-based Atlantic Council think-tank published on Tuesday showed that all G20 nations are now looking into central bank digital currencies (CBDCs) as they are known and that 44 countries in total are piloting them. That is up from 36 a year ago and is part of a global push by authorities to respond to declining cash usage and th...
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Maldives Police Investigate Alleged Coup Plot To Overthrow Government
Police in the Maldives are investigating an alleged attempt to topple President Mohamed Muizzu by stirring anger over the Indian Ocean archipelago's worsening financial conditions.
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Anti-Crypto China Forms Standard-Setting Body for Metaverse, Huawei and Tencent Join Team
China is planning to conduct thorough research around the potential applications and possibilities of manufacturing and communicating using the metaverse. This shift in the country’s focus comes after its Ministry of Industry and Information Technology (MIIT) unveiled an ambitious three-year action plan for the industrial innovation and developme...
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Standard Chartered Bank Joins China’s CBDC Pilot Trials : All You Need to Know
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.
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RBI Assigns CBDC Expansion Targets to Banks, Aims for 1 Million Daily Transactions by December: Report
The RBI, in order to accelerate number of CBDC transactions, is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the eRupee. Under RBI’s directions, Indian banks will now do their bit to ensure that select users get to process eRupee transactions for daily purchases.
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Pakistan Needs To Repay $77 Billion Debt To China, Saudi Arabia By 2026: Report
Pakistan, currently tackling a major economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves.
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Crypto-Friendly UAE to Jump Aboard CBDC Wagon Alongside India, China: Details
After creating a supportive ecosystem for the crypto industry, the UAE is now turning its focus to include its central bank digital currency (CBDC) to the economy. The UAE is backing the creation of a cashless society in the coming years. Its CBDC plans are expected to roll-out in full potential by 2026.
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Ex China Central Bank Official Says Digital Yuan is Little Used
Expressing disappointment with the result of a trial in select provinces and cities, the former official, Xie Ping, told a conference that application of the so-called digital yuan needed to be widened.
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Optimism Returns To Asian Foreign Exchange Market As China Covid Curbs Ease: Report
Long positions on most other emerging Asian currencies also firmed, with those on the Malaysian ringgit and South Korean won at around two-year highs, a fortnightly poll of 10 analysts showed.
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Opinion: Digital Currency Needs To Feel Real. Here's The Reason Why
Some of the early CBDC experimenters like China, Sweden and South Korea have already moved away from physical cash to a large extent.
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What Market Watchers Say About China Unrest And The Global Impact
Comments from market watchers on the China unrest after Chinese stocks slumped as recent monetary easing measures failed to offset investor worries.
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China Unrest Rattles Global Markets As Protests Hurt Growth Outlook
Safe haven assets found buyers while stocks and commodities took a hit as the impact of the protests in China rippled across the globe.
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US Trails China In The Digital Currency Race. Here's Why
China became the first major economy to launch a digital currency in 2021.
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What is the Digital Assets Platform Being Discussed by the BRICS Group?
The BRICS group is considering the creation of a digital assets platform to reduce reliance on US dollars for international transactions. President Putin has expressed his support for this initiative, emphasising that digital currencies could benefit not only BRICS nations but also other developing economies.
-
What is the ‘REDI’ Framework for CBDC Adoption Suggested by IMF
The IMF's REDI framework—comprising regulation, education, design and deployment, and incentives—highlights the importance of fostering awareness and understanding of Central Bank Digital Currencies (CBDCs). In alignment with insights from global financial experts, an IMF report emphasizes that enhancing knowledge about CBDCs is essential for p...
-
Central Bank Digital Currency Momentum Shows Growth, Study Shows
The research by the US-based Atlantic Council think-tank published on Tuesday showed that all G20 nations are now looking into central bank digital currencies (CBDCs) as they are known and that 44 countries in total are piloting them. That is up from 36 a year ago and is part of a global push by authorities to respond to declining cash usage and th...
-
Maldives Police Investigate Alleged Coup Plot To Overthrow Government
Police in the Maldives are investigating an alleged attempt to topple President Mohamed Muizzu by stirring anger over the Indian Ocean archipelago's worsening financial conditions.
-
Anti-Crypto China Forms Standard-Setting Body for Metaverse, Huawei and Tencent Join Team
China is planning to conduct thorough research around the potential applications and possibilities of manufacturing and communicating using the metaverse. This shift in the country’s focus comes after its Ministry of Industry and Information Technology (MIIT) unveiled an ambitious three-year action plan for the industrial innovation and developme...
-
Standard Chartered Bank Joins China’s CBDC Pilot Trials : All You Need to Know
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.
-
RBI Assigns CBDC Expansion Targets to Banks, Aims for 1 Million Daily Transactions by December: Report
The RBI, in order to accelerate number of CBDC transactions, is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the eRupee. Under RBI’s directions, Indian banks will now do their bit to ensure that select users get to process eRupee transactions for daily purchases.
-
Pakistan Needs To Repay $77 Billion Debt To China, Saudi Arabia By 2026: Report
Pakistan, currently tackling a major economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves.
-
Crypto-Friendly UAE to Jump Aboard CBDC Wagon Alongside India, China: Details
After creating a supportive ecosystem for the crypto industry, the UAE is now turning its focus to include its central bank digital currency (CBDC) to the economy. The UAE is backing the creation of a cashless society in the coming years. Its CBDC plans are expected to roll-out in full potential by 2026.
-
Ex China Central Bank Official Says Digital Yuan is Little Used
Expressing disappointment with the result of a trial in select provinces and cities, the former official, Xie Ping, told a conference that application of the so-called digital yuan needed to be widened.
-
Optimism Returns To Asian Foreign Exchange Market As China Covid Curbs Ease: Report
Long positions on most other emerging Asian currencies also firmed, with those on the Malaysian ringgit and South Korean won at around two-year highs, a fortnightly poll of 10 analysts showed.
-
Opinion: Digital Currency Needs To Feel Real. Here's The Reason Why
Some of the early CBDC experimenters like China, Sweden and South Korea have already moved away from physical cash to a large extent.
-
What Market Watchers Say About China Unrest And The Global Impact
Comments from market watchers on the China unrest after Chinese stocks slumped as recent monetary easing measures failed to offset investor worries.
-
China Unrest Rattles Global Markets As Protests Hurt Growth Outlook
Safe haven assets found buyers while stocks and commodities took a hit as the impact of the protests in China rippled across the globe.
-
US Trails China In The Digital Currency Race. Here's Why
China became the first major economy to launch a digital currency in 2021.
