Central Bank President Julio Velarde said the government is partnering with countries with more advanced experience in developing its central bank digital currency, such as India, Singapore, and Hong Kong.
India plans to launch its first digital rupee pilot in first quarter of fiscal year 2023, with the slow implementation giving the central bank more assurance.
The Central Bank of Nigeria further said that $150,000 had been transacted on its app, with 78,000 merchants from 160 countries enrolling for payments.
The Bangko Sentral ng Pilipinas is exploring the use of a central bank digital currency in the near future, but Governor Benjamin Diokno believes that it will be only viable for wholesale transactions.
The Bank of France began experimenting with CBDC in 2020 and said it could transform sectors such as cross-border transfers, but there are concerns.
The Seattle startup, known as Kaj Labs, published a PR claiming it was working with the central bank of Brazil on digital real trials, which the bank has refuted.
The Chinese central bank revealed the figures at a recent event, adding that there are now 10 million corporate accounts and dismissing privacy concerns.
The eNaira was launched by President Muhammad Buhari, and after a few glitches, it’s starting to gain traction as more Nigerians appreciate its benefits.
Appointed members of the Digital Euro Market Advisory Group will advise on matters relating to the development of a digital euro and work on behalf of the Eurosystem.
An e-CNY enterprise zone is to be launched by the Municipal Administrative Center of Beijing to explore the digital renminbi financial system in Beijing.
Plans for the digital currency have been ongoing in the last four years and according to CBN Governor Godwin Emefiele, 500 million eNaira ($1.21 million) have already been minted.
Saudi Arabia Monetary Authority has been active in CBDC research as it seeks to digitize payments, although it has no intention of completely curbing cash use.
