Intrasettle connects multiple CBDCs to provide next generation payment solution
Intrasettle will be “a one-stop payment infrastructure that’s instant, highly secure, and cost-effective,” CEO Kumaraguru Ramanujamm says.
Intrasettle will be “a one-stop payment infrastructure that’s instant, highly secure, and cost-effective,” CEO Kumaraguru Ramanujamm says.
The central bank stated that the pilot would be conducted with a trio of mega banks and regional banks with a keen focus on the issuance and withdrawals of the state-backed digital currency.
Thirteen central banks met in Kenya recently to discuss the impact of CBDCs on cross-border payments while still ensuring AML and CFT standards are adhered to.
A number of commercial banks will participate in the project with RBI noting that each financial institution will test the CBDC with at least 10,000 to 50,000 of their customers, according to reports.
eCurrency and Jamaica expect that the extension of their JAM-DEX project will make significant strides in the country's digital transformation and CBDC adoption.
The Federal Reserve Bank of New York, which also launched another trial with major U.S. lenders, made it clear that the experiment doesn’t indicate the FedCoin is imminent.
The Bank of Korea published a report revealing that its simulations of a digital won had proven Ethereum isn’t scalable enough to anchor a central bank digital currency.
The exploration is part of Project Cedar, an experiment conducted by the BIS to test the worthiness of wholesale CBDC in cross-border transactions.
The government plans to speak with digital asset service providers, institutional and retail investors, and other government agencies to chart the best course for regulating the industry.
MAS says it will conduct four more trials to test the viability of retail CBDCs despite the earlier claims that it was in no rush to carry out a full-scale launch.
The Reserve Bank of India expects the digital rupee would “pre-empt the need for settlement guarantee infrastructure or for collateral to mitigate risk.”
Changpeng Zhao tweeted that his team had persuaded Berik Sholpankulov, the First Deputy of the Governor of the National Bank of Kazakhstan, to test integrating the Digital Tenge with the BNB chain.