cbdc development

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UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives

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On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the research and development of a central bank digital currency (CBDC) designed to address both cross-border payments and domestic … Read more

Fed conference hears stablecoins may boost USD as global reserve currency

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The underlying tech of a central bank digital currency wasn’t enough to convince some panelists at a Fed conference that it could change the international currency system. Go to Source Powered by WPeMatico

BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

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The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said. BIS Says … Read more