The Bank of Korea (BoK) is progressing in the development and testing of its central bank digital currency (CBDC). Three regions outside Seoul, namely Jeju, Busan, and Incheon, have been selected for a “private target CBDC test bed.” The BoK plans to experiment with public payments and distribution in one of these regions and establish … Read more
As competition for digital currencies heats up, the government of Japan is considering establishing a commission to investigate the viability of a digital version of the yen. According to recent reports, the Ministry of Finance is contemplating the possibility of forming an expert panel in April to investigate whether it would be possible to issue … Read more
The European Banking Federation (EBF) has just produced a report in which it discusses its perspectives on the digital euro as well as those of the digital money ecosystem in Europe as a whole. The report, published (1) on the 28th of March, examined the digital euro from the perspective of stability and privacy, both … Read more
Trade in cryptocurrencies Coinbase has been hard at work on a number of important projects, one of which is the development of inflation-pegged flatcoins that will be built on its recently released Layer-2 network Base. Flat coins are one of the four most important developments that Coinbase believes (1) will shape the future of cryptocurrency. … Read more
The American global financial services company Mastercard Inc has engaged in a strategic agreement with Fintech Stables, an Australian startup, with the goal of accelerating the adoption of stablecoins in the Asia-Pacific area. Users of the Stables platform will be able to make payments for items and services with their USD Coin (USDC) at any … Read more
Ron DeSantis, the governor of Florida, is proposing a law that would make it illegal to use central bank-issued digital currencies (also known as CBDCs) anywhere within the state. The governor was quoted as saying in a press release that the parliamentary proposal is being considered in order to protect businesses and inhabitants of the … Read more
The design of central bank digital currencies (CBDCs) was investigated by the International Monetary Fund (IMF), which discovered certain dangers associated with Islamic banking as a result of their findings. The analysis conducted by the IMF revealed (1), to everyone’s surprise, that the flexibility of CBDCs and foreign exchange would operate in a manner inconsistent … Read more
Kaiko, a French company that provides statistics on the crypto market, will relocate its base from Singapore to Hong Kong to take advantage of the better opportunities available in the future center for Web3 enterprises. It was revealed in an interview with Ambre Soubiran, the Chief Executive Officer of Kaiko, that the company would be … Read more
The US seems to be catching up with some of the more digitally advanced economies in Asia like India and China with FedNow. The announcement that the long-awaited FedNow Instant Payment system will finally be operational in July was made by the Federal Reserve of the United States. According to the information (1) provided to … Read more
The United Arab Emirates (UAE) thought that issuing a CBDC would solve its problems with cross-border payments and “promote innovation for domestic payments.” India and the UAE have expressed interest in working together to develop an interoperable CBDC. This will make international sales transactions and money transfers easier to complete. This cooperation may result in other … Read more