At the bankers’ committee meeting yesterday, Rakiyat Mohammed, the Director, Information Technology Department, Central Bank of Nigeria (CBN), revealed that the apex bank would launch a Central Bank Digital Currency (CBDC) before the year runs out. The director noted that: “As I said, before the end of the year, the Central Bank will be making […]
In its unrelenting efforts to develop and release a digital yuan, Shanghai authorities have announced that they would distribute $3 million worth of the Chinese central bank digital currency to Shanghai residents. As seen in other parts of China in the past, the digital currency will get distributed through a lottery. The state-run Xinhua news […]
South Korea’s central bank has indicated its resolve to implement a central bank digital currency (CBDC) at a slow but sure pace. According to a report by the Korea Herald yesterday, the Bank of Korea (BOK) is working on a virtual environment to allow for the evaluation, control, and testing of various stages of its […]
The Indian government is reportedly rethinking banning crypto use in its jurisdiction and is now considering a more lenient regulatory approach. According to inside information, the government has created a new panel of experts to develop a regulatory framework for cryptocurrency use. The Asian giant has remained indecisive in its efforts regarding cryptocurrency for several […]
China continues to dominate the central bank-issued digital currency (CBDC) space as the People’s Bank of China ramps up its testing efforts. The bank announced recently that it ran a successful pilot program for the digital yuan in Suzhou City, where 181,000 individuals were given ¥55 ($8.5) in free digital yuan to spend at designated […]
The Bank of Japan (BoJ) officially announced that trials for its central bank digital currency (CBDC) are now live. The bank noted that the first phase of its trials should be completed by March 2022. According to a Reuters report, the trial will involve two phases. The BoJ will focus its trial on the technical […]
According to Prime News, the Bank of Russia has announced that it is working on launching a prototype of its central bank digital currency (CBDC) and start piloting as early as the end of 2021. The new information got disseminated by Alexey Zabotkin, the Deputy Chairman of the Bank of Russia, in an online event […]
