Category: Central Bank

Shenzhen’s latest $3m digital yuan test sees nearly 140k transactions

Shenzhen’s latest $3m digital yuan test sees nearly 140k transactions

Residents in Shenzhen have proceeded nearly 140,000 transactions in digital yuan during a 10-day city-wide test of China’s central bank digital currency, known as DC/EP. The city of Shenzhen conducted a second run of the digital yuan test starting from January 7 by giving away $3 million worth-of digital yuan to 100,000 local citizens via […]

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Jerome Powell says the Fed’s work on stablecoin risks is a ‘very high priority’

Jerome Powell says the Fed’s work on stablecoin risks is a ‘very high priority’

Federal Reserve chairman Jerome Powell described the central bank’s work on stablecoins as a “very high priority” during a webinar on Thursday.  “Clearly there’s a need for, and we’ve been very focused as you know, on better regulatory answers for potential global stablecoins, in particular,” Powell said during a segment that focused in part on central […]

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ECB: Digital euro survey participants cite privacy, security as key elements

ECB: Digital euro survey participants cite privacy, security as key elements

The European Central Bank said that its public consultation on a proposed digital euro generated more than 8,000 responses.  The online consultation began on October 12 and concluded on Tuesday, according to a statement published today. Full analyses of the findings will be published in spring, prior to when the ECB Governing Council will decide […]

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Latest Shanghai test gives preview of card-based hardware wallets for the digital yuan

Latest Shanghai test gives preview of card-based hardware wallets for the digital yuan

Quick Take Though it was known that the digital yuan is supposed to come with hardware wallets, the latest Shanghai test offered a glimpse at a prototype.  The hardware wallets can be more private and and user-friendly than mobile app wallets, according to local news reports This feature story is available to subscribers of The […]

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Bank of England governor on Facebook-backed Diem: ‘Where’s the business model?’

Bank of England governor on Facebook-backed Diem: ‘Where’s the business model?’

Andrew Bailey, governor of the Bank of England, has publicly questioned the business model of stablecoin project Diem. During questioning from MPs as part of a Treasury Committee panel on January 6, Bailey was asked by Conservative MP Steve Baker about privacy concerns relating to central bank digital currencies, or digital currencies that are backed […]

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Fiat Freeway: GMO’s JPY-pegged Stablecoin Rises in the Big Apple and Fed Researchers Weigh-in on Digital Asset Tokens vs. Accounts

Fiat Freeway: GMO’s JPY-pegged Stablecoin Rises in the Big Apple and Fed Researchers Weigh-in on Digital Asset Tokens vs. Accounts

Quick Take ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins.  This week’s column first examines GMO-Z.com Trust Company Inc.’s trust charter approval from the New York State Department of Financial Services (NYDFS).  We conclude with a review of a recent FEDS Note on the tokens […]

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Ukraine signs agreement with Stellar Development Foundation to work on CBDC, digital asset strategy

Ukraine signs agreement with Stellar Development Foundation to work on CBDC, digital asset strategy

Ukraine’s Ministry of Digital Transformation has inked a memorandum of understanding with the Stellar Development Foundation, with the two sides agreeing to cooperate on a number of digital asset-related initiatives. According to statements published Monday, such projects will include assisting Ukraine’s central bank on its digital currency efforts and, more broadly, “the development of a […]

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Fiat Freeway: Visa adds a novel CBDC Protocol to its Growing Digital Ecosystem

Fiat Freeway: Visa adds a novel CBDC Protocol to its Growing Digital Ecosystem

Quick Take ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins.  This week’s column explores Visa’s novel offline payment system (OPS) protocol, which expands the global payments technology company’s fast-growing digital ecosystem into CBDC.   This research piece is available to members of The Block Genesis. You […]

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