Tag "central bank digital currency (CBDC)"

RBI Discusses CBDCs for Cross-Border Payments with HKMA, US Fed, and SWIFT

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA), the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments. This

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Singapore, China, & Cambodia Lead the Pack in CBDC Development

In Asia, central banks and monetary authorities are rushing to develop and deploy central bank digital currencies (CBDCs), a technology that they believe is central to their transition to a digital economy, a new report by the Asian Development Bank

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Exploring the Australian CBDC Pilot for Digital Finance Innovation

In the fast-evolving world of payments, where preferences shift and technologies advance, the concept of a Central Bank Digital Currency (CBDC) has emerged as a focal point.  This reflects the changing payment dynamics among households and businesses and the concurrent

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Strong Support for CBDCs in Emerging Asia, But Concerns Loom

The rise of digital technologies has triggered a paradigm shift in the financial landscape, with central bank digital currencies (CBDCs) emerging as a crucial topic of discussion among policymakers and financial professionals globally. As the opportunities and challenges of incorporating

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Are CBDCs a Threat to Monetary Policy? Possibly, Says IMF

Central Bank Digital Currencies (CBDCs) represent a transformative development in the financial industry, as a growing number of countries rapidly progress from theoretical considerations to focused research and pilot programs. The compelling advantages of CBDCs have garnered the attention of

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Ravi Menon Lays Out Singapore’s Crypto Hub Ambitions at SFF 2022

Singapore wants to be a crypto hub, but only if it means being a hub for sound and well-regulated tokenised and digital assets with value-adding use cases, according to the Monetary Authority of Singapore (MAS). This means discouraging retail investment

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MAS Initiates Digital Singapore Dollar Trials

The Monetary Authority of Singapore (MAS) has published a report detailing potential uses of a purpose-bound digital Singapore dollar (SGD) and the supporting infrastructure required. The report also marked the successful completion of Phase 1 of Project Orchid which explored

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Central Bank Digital Currencies Not a Silver Bullet for Financial Inclusion, BIS

While central bank digital currencies (CBDCs) have the potential to increase financial inclusion by lowering financial access barriers, they aren’t a silver bullet and must be part of a broader suite of tools and strategy that focuses on promoting universal

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“No Pressing Need” for a Digital Singapore Dollar Despite Benefits

There is “no pressing need” for a retail central bank digital currency (CBDC) in Singapore at this point in time, but market shifts and changing customer expectations are nevertheless forcing the central bank to prepare for a possible issuance in

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