The Bank of Spain has announced a partnership with Cecabank, Abanca, and Adhara Blockchain to pilot a central bank digital currency (CBDC). This initiative propels Spain to the forefront of digital currency exploration, independent of the broader digital euro project. The upcoming six-month trial will simulate interbank payments using a tokenized wholesale CBDC, a groundbreaking step in testing the viability of digital currencies […]

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Palau is taking a significant step forward in its digital financial landscape by launching the second phase of the Palau Stablecoin (PSC) program. Announced on December 15 by Jay Hunter Anson, a cybersecurity advisor to the Ministry of Finance, this phase is set to refine the nation’s digital ecosystem and bolster user engagement, with a […]

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The National Bank of Kazakhstan has successfully completed a month-long trial, showcasing the versatility of the digital tenge across various applications, from facilitating free lunches for schoolchildren in Almaty to the tokenization of gold. This innovative currency has been integrated seamlessly into the daily lives of citizens, thanks to the collaboration with local banks and global payment giants Visa and […]

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Ripple, the blockchain-based digital payment network, has issued a comprehensive white paper emphasizing the transformative role of Central Bank Digital Currencies (CBDCs). The document, spanning 23 pages, was made public on December 14, offering a deep dive into the world of CBDCs. Ripple’s white paper underscores the potential benefits of CBDCs, such as enhancing financial inclusion, simplifying cross-border […]

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Ripple’s Chief for Central Bank Engagements, James Wallis, has articulated the transformative impact that Central Bank Digital Currencies (CBDCs) could have in bridging economic divides internationally. Wallis, whose acumen in CBDCs is recognized, underscored the intention behind these virtual currencies to extend financial outreach to those with scant incomes and no conventional banking linkages. Wallis […]

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Singapore’s central banking authority, the Monetary Authority of Singapore (MAS), has launched an ambitious pilot scheme to deploy a live, wholesale Central Bank Digital Currency (CBDC) for bank settlements. Unveiled by MAS managing director Ravi Menon at the Singapore Fintech Festival on the 16th of November, this initiative signifies a pivotal shift from experimental simulations […]

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Georgia’s financial landscape is poised for an innovative leap forward with the National Bank of Georgia (NBG) embracing Ripple Labs’ technology for their pioneering central bank digital currency, the digital lari. This strategic partnership aims to usher in a new era of financial efficiency, potentially transforming transactions for government, businesses, and individuals alike. Ripple’s selection […]

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