The U.S. dollar could face an enormous challenge as the BRICS alliance eyes the use of stablecoins for settlements in the wake of increasing sanctions against Russia and growing rivalry with China.
Thailand sees central bank digital currency as a tool that could promote innovation but argues that it is in no rush to push for one, noting that it will resort to programmable payments and tokenization instead.
Germany is MIT’s fourth central bank partner in a study that will focus on the digital euro, although Bundesbank has speculated there could be other applications.
The Reserve Bank of New Zealand launched its first consultation in 2021, which focuses on principles and design options for the digital dollar.
While emphasizing the potential of CBDCs in enhancing payments and securities transactions, the World Economic Forum also identified a number of industry challenges where the technology can be of good use.
A digital shekel will force commercial lenders to up their game and offer better and cheaper services, according to the deputy governor of the Bank of Israel.
Digital asset exchanges in India strive to improve users' trading experience while complying with regulations, as the nation's economic projections for emerging technologies lure investors.
A recent study found that Australians trust commercial banks as much as the central bank but are willing to pay more to share less data with authorities.
The HKMA chief executive says the central bank is still determining whether there is a real need for a retail CBDC, adding that existing systems in Hong Kong are efficient.
Governor Elvira Nabiullina says that the digital ruble needs to be the most convenient payment method for individuals and businesses before it gains mass usage.
The Atlantic Council emphasized the need to implement global interoperability standards around CBDC, which is crucial to ensure that the technology can be trusted and foster financial inclusion.
Building on two previous digital bond issuances, the World Bank says the next logical step is to issue one that’s settled with a central bank digital currency.
