Bank of Korea completes first phase of digital currency pilot

The second phase of the CBDC mock testing is expected to complete by June this year

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Iran Reportedly Gearing up for CBDC Pilot in the Nearest Future

Iran’s central bank is reportedly looking to begin the pilot phase of its proposed central bank digital currency (CBDC) project.  Iran’s CBDC Pilot to Happen Soon According to the Iranian Labour News Agency, Mehran Moharamian, the vice governor for IT affairs at the Central Bank of Iran, believes that CBDCs could be the solution toRead More

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Swiss central bank tests wholesale CBDC with commercial partners

The Swiss National Bank integrated a wholesale CBDC into the banking systems of five commercial banks as part of the second phase of Project Helvetia.

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Jamaica Completes CBDC Pilot And Anticipates A Full Launch In The Coming Months

Jamaica has completed the pilot phase of its CBDC testing.   The nationwide rollout is to begin in the first quarter. The race for CBDCs continues. The Bank of Jamaica has disclosed that it has concluded its pilot stage for its CBDCs.

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Report: Nigeria to Start Piloting Digital Currency in October

The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency project, or the “e-naira,” is expected to use the Hyperledger Fabric blockchain.

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Digital Euro Project Gets Going as ECB Launches Investigation Phase

After months of deliberation, the European Central Bank has decided to proceed with a digital euro project. Officials insist the new version of Europe’s common currency should “ensure privacy” and provide access to “the safest form of money” at a “negligible” cost to the environment, in comparison with bitcoin.

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European Central Bank Kicks Off New Phase Of Digital Euro Project

The European Central Bank (ECB) is moving forward with its central bank digital currency (CBDC) plans. Today, the bank announced that its Governing Council had approved the investigation phase of the digital euro project.

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ECB Gives Go Ahead to Digital Euro Project

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First CBDC Coming To Africa As Ghana Plans to Launch Pilot in September

The Bank of Ghana (BoG) will launch its central bank digital currency project’s pilot in September, according to the Bank’s First deputy governor, Maxwell Opuku-Afari. Modern Ghana, a local news outlet, reported that the deputy governor said the project is currently in its last phase of development, and implementation is expected to start in two […]

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JPMorgan Predicts When Bitcoin Bear Market Will Be Over

Global investment bank JPMorgan has predicted that the bitcoin price slump will likely be over when the cryptocurrency’s dominance rises back above 50%. “I think that’s another indicator to watch here in terms of whether this bear phase is over or not,” the firm’s analyst explained.

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Nigeria’s Central Bank Could Launch Digital Currency By End of 2021

The digital currency project could be ready for a pilot phase within the next… The post Nigeria’s Central Bank Could Launch Digital Currency By End of 2021 appeared first on Coin Journal.

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China Begins $6 Million Digital Yuan Airdrop Trial

China has been developing its central bank digital currency (CBDC), the Digital Yuan, for over seven years. The project has come to a critical test phase and it’s ready to be used by the citizens.

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Central Bank of Sweden Invites Financial Market Actors for Second Phase of E-krona Pilot

Sveriges Riksbank, the central bank of Sweden, will carry out the next stage of its e-krona project with the help of two organizations from the financial sector. The move signals a transition from the initial in-house testing with simulated participants to cooperation with real, external partners.

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JPMorgan Launches Blockchain-Based Validation Solution for Financial Institutions

Banking giant JPMorgan has revealed the launch of a blockchain solution that will reduce the number of failed transfers within its payment system. This development was announced on Monday, with the bank confirming that the solution named ‘’Confirm’’ is in its testing phase.

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Swedish Central Bank Releases the First Study About Its CBDC E-Krona Pilot

The Swedish central bank keeps making steps towards modeling its e-krona pilot project by issuing a detailed report of the results of phase one for the path ahead. Riksbank is still optimistic about launching its central bank digital currency (CBDC), but there are hurdles to clear out on the road. Riksbank to Spend Another Year […]

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Sweden’s Riksbank completes the first phase of its digital currency trial

Riksbank, Sweden’s central bank, has finished the initial part of its digital currency experiment. The authority unveiled this news through a report, noting that it ran into some serious issues that it must address before Swedes can use the e-krona for daily purchases.

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Swedish Central Bank Finishes Phase One Of the e-Krona Digital Currency Test Pilot

Today, the Swedes learned that they might have to wait a little longer to use an e-krona for their daily uses after the Swedish central bank realized that there are minor issues that need addressing after the first phase of a central bank digital currency (CBDC) project.

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Sweden’s central bank concludes first phase of digital currency test

Sweden was one of the first nations worldwide to test the CBDC waters. In 2019, it announced a pilot platform for its e-krona, with the country coming a long way since. In fact, Sweden has now publishThe post Sweden’s central bank concludes first phase of digital currency test appeared first on AMBCrypto.

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Sweden’s central bank completes first phase of digital currency pilot

The Sveriges Riksbank said that CBDC technology still requires further investigation.

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Bank Of Japan Commences The First Phase Of Its Digital Yen Experiments

Japan is the latest country making efforts towards issuing its own central bank digital currency (CBDC). The country, however, is taking a measured approach towards the digital currency project. Bank of Japan — the nation’s central bank — on Monday announced that it is starting the first phase of experiments for its sovereign digital currency. […]

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Bank of Japan (BoJ) Officially Commences Phase 1 of CBDC Experiments

Per the official document published on Monday, The Bank of Japan (BOJ) said they have been undertaking preparations to begin experiments on digital yen in the early fiscal year 2021. The banks will be testing the technical feasibility of the core functions and features required for the CBDC.

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Bank of Japan Commences the First Phase of Virtual Currency Assessments

Japan’s Central Bank has begun its first testing stage involving the use of Central Bank-based Digital Currencies(CBDC), experimenting with functions like distribution and issuance. The first phase will take about one year, primed to end around the third month of 2022.

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Bank of Japan Commences Phase 1 Proof of Concept Testing of CBDC

Continue reading at Coinspeaker

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Bank of Japan begins first digital currency proof of concept

The first phase of Japan’s CBDC pilots will have been completed by March 2022, the central bank states.

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German Bank Donner & Reuschel Set To Offer Crypto Services

German bank Donner & Reuschel is set to offer cryptocurrency buying and custodial services to its clients. This signifies a different phase for the bank as it looks to expand its services to the growing crypto industry.

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China and UAE Central Banks Join “Multiple CBDC Bridge Study” To Enhance Cross-Border Payments

The Central Bank of the United Arab Emirates (CBUAE) and the Digital Currency Institute of the People’s Bank of China (PBC DCI) have joined Hong Kong Monetary (HKMA) in partnership with the Bank of Thailand (BOT) in the second phase of the Project Inthanon-LionRock.

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Bank of Korea Plans to Test the Adoption of CBDCs

Korea’s apex bank has announced the pilot phase for its CBDC. According to a spokesperson, the BOK will begin conducting tests within a controlled environment. The spokesperson stated that this would ensure the new digital currency’s workability and safety.

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Europe, Japan, Russia: countries around the world are accelerating CBDC projects

The European Central Bank confirmed the possible issue of a digital euro. The final decision will be made by mid-2021. Meanwhile, Japan moved on to the second phase of its CBDC project.

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Italian Banking Association started testing digital euro

As the Central Bank Digital Currency (CBDC) craze continues to conquer the world, the Italian Banking Association (ABI) decided to start a phase of experiments in order to determine the potential benefits of the digital euro.

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Ripple Board Hires Former Regulatory Expert For JPMorgan To Provide Counsel For The Company’s Next Phase

Ripple’s board of directors has onboarded a powerhouse employee from the legacy financial sector.   Sandie O’Connor, the former chief regulatory affairs officer at U. S. multinational investment bank JPMorgan Chase & Co.

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Swedish Government Launches Exploration Into Digital Krona

The Swedish government was one of the first in Europe to explore a possible Central Bank Digital Currency (CBDC). It has now moved into an exploratory phase, with a panel studying the potential benefits and consequences of digitizing its currency.

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NYU Professor Predicts CBDCs Are Imminent, Bitcoin Still Unviable

Central banks have been responding to the rise of Bitcoin with the introduction of central bank digital currencies, or CBDCs. Thus far, movement on this front has been somewhat slow. Save for China, most central banks are still in the ideation phase, or are looking more into how a CBDC would affect their economy and […]

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China: CBDC Tests Crosses $300M Payment Milestone from 4M Transactions

China’s expanded central bank digital currency (CBDC) development has reached a new milestone of 2 billion yuan in total payments processed despite still being in the testing phase. With a few countries having released their own sovereign digital currencies, stakeholders are calling for more international collaboration on CBDCs.

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Here’s why Bitcoin will boom in the “biggest overhaul” of finance

The development of Central Bank Digital Currencies (CBDC) has blossomed in the past few years, with countries like China in the advanced stages of its digital Yuan and Japan, Korea, and the US in their research phase for their respective fiat currencies.

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South Korea’s Central Bank to Test Digital Won Distribution In 2021; CBDC’s Are Gaining Momentum

The Central Bank of South Korea has announced that it will commence the distribution phase of its CBDC next year, marking the final stretch of the 22-month scheduled initiative. First reported by the Korea Herald, the Bank of Korea (BOK) intends to run the distribution of its blockchain-based CBDC up to December 2021.

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Bank of Korea to Test CBDC Distribution in 2021

With phase one of its central bank digital currency (CBDC) experiment complete, the Bank of Korea (BOK) is looking forward to testing the token distribution system in 2021. Despite the ongoing CBDC trials, South Korea’s central bank says it is not looking to launch a sovereign digital currency.

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South Korea's digital won to begin distribution phase next year

The South Korean central bank is on track with its CBDC pilot program, but still insists it has no current plans to launch.

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ConsenSys to Work on PoC for CBDC with Hong Kong Monetary Authority

ConsenSys has shared on Sept. 25, that it was awarded a cross-border payment network study project by the Hong Kong Monetary Authority (HKMA). The project involves the development of a technology for a central bank digital currency (CBDC) cross-border payment network, which actually serves as the second implementation phase of the Project Inthanon-LionRock.

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South Korean Central Bank Enters Phase 2 of CBDC Development; Seeks Consulting Partner

The Bank of Korea (BoK) has advanced its Central Bank Digital Currency (CBDC) initiative following a recent call for collaboration with a private consultancy. This move will set ground for the second phase of South Korea’s CBDC with a speculated pilot launch in 2021.

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South Korea Steady in Their CBDC Plans, Searching for a Local Consulting Partner

The central bank of South Korea, the Bank of Korea, is moving towards the technical phase in their concerted effort to pilot a central bank digital currency (CBDC)–the digital won, and will pick a consulting partner a month after completing the review of the first phase reports The Korea Times on Aug 31.

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South Korea’s Central Bank Starts Technical Phase for Digital Currency Ahead of 2021 Pilot

The Bank of Korea is seeking a partner to help develop the architecture for a potential central bank digital currency.

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Bank of Thailand Extends Testing Of Digital Baht; Integration With Hong Kong Later In 2020

Thailand is currently in its third developmental phase of building its central bank digital currency (CBDC), a local newspaper, and Nation Thailand reported on Thursday. The paper stated that the Assistant Governor of the Bank of Thailand, Vachira Arromdee, who said the bank is already rolling out its CBDC to large companies. The Bank of […]

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Bank of Thailand Enters Third Phase of CBDC Development; Now “Using CBDC with Big Businesses”

The Bank of Thailand (BOT) announced Wednesday that is has entered third-phase development of its central bank digital currency (CBDC). BOT is planning to expand the use of the CBDC among large businesses.

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MAS, Temasek & J.P. Morgan Complete Blockchain-Based Prototype

Singapore’s central bank has successfully completed the fifth phase of a blockchain payments project, soon to be ready for live adoption. The Monetary Authority of Singapore (MAS) announced today that it has developed a blockchain-based payments prototype for faster and efficient cross-border payments.

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Lithuania’s Central Bank to Fully Deploy its Blockchain Platform By Year-End

The Bank of Lithuania announced that it had completed the research phase of its blockchain project called LBChain. The central bank now plans to deploy the platform by the end of 2020 and expand its use cases beyond the financial sector.

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Lithuania’s Central Bank Completes Blockchain Regulatory Research

The Bank of Lithuania finished its research phase on the LBChain’s blockchain project that aims to provide a regulatory infrastructure.

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PBC Governor says China has no launch timetable for the Digital Yuan

The People’s Bank of China has reiterated that the Digital Yuan is still at the testing phase and there is no set timetable for the official launch The Governor of the People’s Bank of China (PBC) Yi Gang has reportedly told a panel at a meeting that the country’s move towards launching a central bank-issued […] The post PBC Governor says China has no launch timetable for the Digital Yuan appeared first on Coinjournal.

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Libra 2.0 may end up being a massive threat to central banks' CBDC hopes

There has been rapid progress on the CBDC end lately. China has reached the final phase and many other countries are walking the same path. The latest news is the central bank think tank OMFIF launchiThe post Libra 2.

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Ripple Partners with DeeMoney to Power Faster and Cheaper Cross-Border Money Transfers

Coinspeaker Ripple Partners with DeeMoney to Power Faster and Cheaper Cross-Border Money TransfersRipple's partnership with DeeMoney is set to enter the second phase. DeeMoney is currently the only fintech firm with a funds transfer license from the Thai Central Bank.

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