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Prime minister orders central bank to develop blockchain-based prototype by 2023

Joint report to the G20 by the Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank.

Central bank digital currencies (CBDCs) have the potential to enhance the efficiency of cross-border payments, as long as countries work together. This is the main conclusion of a joint report released today by the Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank.

"There is also no doubt in our mind that a major central bank will soon launch a digital currency and we expect this to happen within the next three years," said Guardtime.

A new report released by the triumvirate of global finance argues that central bank digital currencies will benefit worldwide development.

A survey conducted by UBS investment bank shows that central banks do not expect a cryptocurrency to replace gold as a digital reserve asset.

The Reserve Bank of New Zealand will look at the potential for a CBDC “to work alongside cash as government-backed money,” and assess the issues around the emergence of crypto assets such as stablecoins.

The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs.

While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems.

From being labeled impractical to nearing mainstream deployment, the digital yuan can transform the global economic landscape.

The Monetary Authority of Singapore (MAS) and Banque de France (BdF) say the two agencies have successfully completed a test using central bank digital currency (CBDC) for a wholesale cross-border payment and settlement. Both jurisdictions have been known to be experimenting with CBDCs with the

The Bank of Jamaica is getting ready to begin testing its planned central bank digital currency in collaboration with financial institutions in the country.

BIS says volatile cryptos like Bitcoin failed as payment method, but stablecoins, CBDCs may be effective for transactions.

Six of China’s top banks have tasked their employees with promoting digital yuan wallets to 200 to 300 people a year.

Vietnamese news outlets have reported that the country's prime minister, Phạm Minh Chính, has tasked the State Bank of Vietnam with studying and conducting a pilot for a digital currency.