Bahamas’ Sand Dollar attracted 0.5% of cash in circulation 3 years on: official
Bahamians have been willing to explore the CBDC, with 120,000 of the island’s 400,000 opening accounts, but they have only transacted $2.1 million in over three years.
Latest Central Bank Digital Currency News
BRICS eye stifling US dollar influence with blockchain-based payment system
Russia is reportedly banking on the planned blockchain-based payment system to reduce the U.S. dollar's global influence, seeking help from other BRICS members.
Russia’s CBDC pilot hits 25,000 transaction mark
Seven months after its introduction, Russia's digital ruble pilot has recorded 25,000 transactions, with the upcoming project with fellow BRICS member states projected to help increase the figure.
Reserve Bank of India gives no specific timeline for ‘full-fledged’ e-rupee launch
It will take quite some time before India sees the "full-fledged" launch of its CBDC as the RBI insists on a cautious approach to ensure the integrity and stability of the e-rupee.
Hong Kong to launch stablecoin sandbox in Web3 push
Hong Kong’s budget revealed the city is expanding its digital yuan pilot testing to allow residents to top up e-CNY wallets through the FPS real-time system.
China warns against fake CBDC app
Scammers are reportedly using fake apps to trick Chinese digital yuan users with promises of dividends before wiping the victims’ accounts clean.
Anti-CBDC bill introduced in US Senate
The five senators, led by Senator Ted Cruz, claim that a digital dollar is the Biden administration’s attempt to illegally surveil citizens’ spending habits.
Turkey’s two-tier CBDC to support programmable payments
The digital lira will also focus on user privacy and only support one account per user, accessible through all intermediary financial institutions, according to the Central Bank of the Republic of Turkey.
EU Parliamentary Committee votes in favor of ‘digital euro’ CBDC
EU inches closer to having a CBDC after 48 LIBE members voted in favor of the digital euro, but it likely won't be until June 2024 before a full EU Parliament vote is heard.
UK’s digital pound faces trust concerns and political opposition
As the U.K. edges closer to a general election, the digital pound is becoming a contentious political issue amid mounting opposition from privacy lobbyists.
Lugano settles second digital bond using wholesale CBDCs
Valued at $114 million, Lugano's native digital bond will rely on Switzerland's experimental central bank digital currency for settlements.
Bank of Canada: CBDC with nationwide service locations will slice 12% of bank deposits
The central bank dismissed fears that a CBDC would disintermediate banks as the extra services they offer, like mortgages and credit cards, would retain clients.