Following the Solomon Islands, Palau, and the Marshall Islands, PNG has sought the aid of Soramitsu in its foray into CBDC, which it sees as a potential tool for tackling financial crimes.
Visa partnered with HSBC and Hang Seng Bank in 2023 on a pilot that combined the e-HKD and tokenized deposits and has now published a report on its success.
In its report, Sweden's Riksbank sees a semi-centralized blockchain for its CBDC as the most optimal model over a fully decentralized network, citing that the latter can be a waste of energy.
After successful pilots and collaboration with the Bank of International Settlements, BOI Deputy Governor Andrew Abir said it was waiting for a major Western central bank to launch before implementing Israel's CBDC.
The ECB experimentation was for the region's CBDC, the digital euro, and is an attempt to bring more use cases to other large financial institutions.
Despite Governor Yang Chin-long's protestations that central bank digital currency development is not a race, Taiwan seems to be steadily catching up with regional leaders China and Hong Kong.
With an ambition to transform the cross-border payments ecosystem, China partners with Kazakhstan in exploring CBDCs, which comes at the height of a surge in trade volume between the two countries.
Since its launch in 2020, the Sand Dollar CBDC has failed to garner the expected uptake in the Bahamas, forcing the central bank to mandate banks to support it.
The North Carolina Governor said the bill was "premature, vague and reactionary and proposes an end result on important monetary decisions that haven't even been made yet."
The partnership between Crunchfish and Tata Consultancy Services will utilize the Quartz solution for CBDCs with offline payments enabled by Crunchfish’s patented Digital Cash solution.
With more locals utilizing UPI, India is struggling to promote its CBDCs, with both retail and wholesale CBDCs taking a plunge in usage, but the RBI has no plans of dropping these initiatives.
Both Hong Kong and France will explore the interoperability of their wholesale CBDC systems via a regulatory sandbox to strengthen communication and collaboration.
