Bermuda has launched a digital token to stimulate the local economy following the COVID-19 pandemic.
Bank of Korea is looking for a firm to partner with on the CBDC’s second phase which involves building the infrastructure.
The China Construction Bank briefly rolled out the feature over the weekend, allowing users of its mobile app to access the digital yuan.
There was $48,000 worth of its central bank digital currency, the Sand Dollar, in circulation, according to the Bahamas central bank.
The digital currency electronic payment has been on a test run, targeting small retail transactions amid preparations for nationwide rollout.
The group will investigate the implications of a central bank digital currency (CBDC) on the country’s economy, among other things.
The central bank has been studying and testing DLT for years now and is currently working on a hypothetical digital currency oriented to central bank uses.
The facility to support CBDCs is being developed as a “bolt-on” should the bank decide to roll out a digital currency in future.
Bakong is in testing since July and is expected to be up and running by the end of the quarter, according to a central bank official.
The Philippine central bank has assembled a committee to research the feasibility of central bank digital currency as well as its policy implications.