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The Reserve Bank of India (RBI) is actively exploring the potential of central bank digital currency (CBDC) on an international scale, according to Governor Shaktikanta Das at the Global Fintech Fest. The RBI is focusing on enhancing CBDC’s interoperability with existing retail payment systems like the Unified Payment Interface (UPI) to facilitate seamless cross-border transactions. … Read more
RBI Governor Shaktikanta Das advocates a plug-and-play system to enhance cross-border payment efficiency and CBDC interoperability. Go to Source
India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments, improve financial inclusion, and mitigate risks posed by private digital instruments. The RBI’s … Read more
The Cambodian central bank’s Soramitsu-backed digital payment system is continuing to expand. Go to Source
Ripple Labs has initiated beta testing for ripple usd (RLUSD), a stablecoin pegged to the U.S. dollar, on both the XRP Ledger and Ethereum mainnets. The stablecoin is currently not available for public trading as it awaits regulatory approval. Ripple’s USD-Backed Stablecoin Enters Beta Phase Ripple usd or RLUSD, designed to maintain a 1:1 value … Read more
Caliza, a fintech company headquartered in the U.S. but focused on Latam, has raised $8.5 million in a funding round led by Initialized, seeking to expand the reach of its foothold in Brazil. The company offers B2B solutions focusing on USDC, Circle’s regulated stablecoin, providing rails for easing cross-border payments for its customers. Caliza Raises … Read more
John Wingate of BankSocial and Azeem Khan of Morph tell The Agenda podcast how crypto and blockchain can make the world a better, more equitable place. Go to Source
Russia is considering adding the subject of stablecoins to an upcoming bill, allowing them to be used officially for completing cross-border payments. Alexey Guznov, Deputy Chairman of the Bank of Russia, declared that proposals have already been presented and the issue is now being discussed. The Ministry of Finance also confirmed that this is being … Read more
Russia’s central bank has urged businesses to consider various payment solutions, including cryptocurrencies and digital assets, to manage transactions with foreign partners and counter Western sanctions. Bank of Russia Governor Elvira Nabiullina highlighted that the central bank has softened its stance on the use of cryptocurrencies in international payments. She also mentioned ongoing efforts to … Read more
The latest Bank for International Settlements (BIS) survey reveals that 94% of central banks are exploring central bank digital currencies (CBDCs). There has been a notable increase in wholesale CBDC experiments, especially in advanced economies. Central banks are examining various factors for retail CBDCs, including holding limits and offline functionality. 94% of Surveyed Central Banks … Read more
