A recent paper by nChain suggests a new monetary policy tool that uses sector-specific cashback payments on private consumption expenditure via a retail CBDC.
The website for the eNaira has launched, introducing the public to the CBDC and touting its benefits, as the official October launch date draws ever closers.
The Federal Reserve is still weighing the advantages of a CBDC and is in no rush to reach a decision on to rollout the technology, according to Jerome Powell.
HSBC Group CEO Noel Quinn struck a positive note about CBDCs and how the technology could be used by governments in issuing digital currencies.
Following the bold steps of El Salvador, countries in Central America such as Honduras and Guatemala are looking into analyzing digital currencies with a goal to adopt them.
Three domestic partners were identified and invited to sign a memorandum of understanding with the bank, whose goal is to develop the “Digital Turkish Lira Collaboration Platform."
Jürgen Schaaf said the test phase is still in trial for the technology and banks would experiment with digital currency to determine whether to roll out its central bank digital currency more widely.
The head of the Bank for International Settlements has asked central banks to step up their efforts with CBDCs as they face a threat from stablecoins and DeFi.
The report views digital currency a trending innovation in finance, but also a threat to the sustainability of financial services due to its environmental impact.
JD.com has teamed up with the Bank of Communications to give away $2.5 million in a lottery for the second time as the launch of digital yuan nears.
The reserve banks in each country have teamed up to trial a new platform for enabling cross-border transfers denominated in a central bank digital currency.