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But Singapore sees no pressing need for retail central bank digital currency, MAS says

In line with the development of its Central Bank Digital Currency (CBDC) dubbed the Digital Rubble, the Central Bank of Russia is set to launch a prototype platform for the new form of money in ear

The retail CBDC will be developed in partnership with private entities, which “would be the digital equivalent of today’s notes and coins.”

According to Vikram Pandit, most financial institutions are likely to integrate digital currency trading services within the next one to three years

CBDCs have the potential to make a significant impact on global finance, but appropriate safeguards need to be in place, an official from the Monetary Authority of Singapore (MAS) said today. The industry gathered for the Singapore FinTech Festival, where one of the presenters was

Russian lawmakers will reportedly begin working on the legal adjustments needed to implement the digital ruble plan scheduled for early 2022.

A digital pound is taking another step forward, according to a statement by the UK government. HM Treasury and the Bank of England have announced a forthcoming consultation to set out their assessment of the case for a UK central bank digital currency or CBDC.

Making the e-CNY more privacy-orientated aside, the PBoC already has ambitions to bring the CBDC onto the world stage.

"The earliest date for launch of a U.K. CBDC would be in the second half of the decade,” said the Bank of England, adding no final decision has yet been made.

It is my great pleasure to speak to you today1. I would like to thank the organisers of the Singapore Fintech Festival and the Monetary Authority of Singapore for their kind invitation to be virtually present.

Payments system could eliminate delays and need for multiple correspondent banks

It is my great pleasure to join you today for Hong Kong Fintech Week. I would like to thank the Hong Kong Monetary Authority and the other organisers for inviting me to participate. Hong Kong SAR is a special place for the BIS. It is the home for our Asia-Pacific regional office, and for one of our first three Innovation Hub Centres. Its vibrant fintech ecosystem is a constant source of innovation and inspiration.

China’s digital yuan wallet has witnessed its user base rise six times more just after the past four months to hit 140 million active accounts.

A growing academic literature examines the economic implications of central bank digital currencies (CBDCs). The main focus is on their "reserves for all" aspect and the balance sheet issues for central banks, as well as the implications for monetary policy and financial stability. By contrast, in policy circles, the emphasis is on designing CBDCs to achieve public policy goals within the current two-tier payment system. This implies a division of labour between the public and private sector, thus keeping the footprint of the central bank limited.

China’s CBDC hit 62 billion yuan in total transactions processed, according to PBoC’s digital currency head.