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The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system. Iranian Government Prepares to Trial Its Digital Currency The project to issue a digital … Read more
The central bank of Kazakhstan has completed the second phase of testing for its digital currency and published a whitepaper. The studies carried out by the regulator on its introduction did not identify significant risks for the country’s financial stability and economy. Monetary Authority of Kazakhstan Reports on Advance of Digital Tenge Pilot Project The … Read more
A financial institution and a coin trading platform in Kazakhstan have teamed up to carry out what they say is the country’s first such joint transaction for the acquisition of cryptocurrency. Meanwhile, Kazakhstan’s leadership has declared readiness to further develop crypto exchange in the nation’s financial hub. First Banking Operation With Crypto Assets Opens Door … Read more
Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA) … Read more
The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers. China’s Central Bank Insists on Expanding Digital Yuan Environment The monetary policy regulator of … Read more
The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From Cryptocurrencies, Central Bank Says Iranian … Read more
The Central Bank of Russia (CBR) has accelerated the development of its digital ruble in response to Western sanctions. The monetary authority now intends to pilot transactions with the new version of the national fiat in early 2023 instead of 2024, as originally planned. CBR to Launch Transactions, Smart Contracts With Digital Ruble as Early … Read more
Testing of the digital ruble has started in Russia with the country’s central bank announcing the first complete transactions between individual wallets. The monetary authority, a staunch opponent of cryptocurrencies, says its digital currency will create new opportunities for citizens, businesses, and the Russian state. Digital Ruble Transactions Carried Out by Commercial Banks and Bank … Read more
Banks in Russia are preparing to dive into the pilot phase of the digital ruble project and some are already testing transactions with the currency. Trials have started with customer-to-customer (C2C) payments and Bank of Russia plans to expand the types of operations in the future. Digital Ruble Pilot Launches With 12 Participating Banks The … Read more
Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project. Bank of Russia Sets Conditions for Digital Ruble … Read more
