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The researchers built on their separate projects to demonstrate cross-border payments using illiquid currencies with an intermediate “vehicle” currency.
The Australian digital dollar was used in a trade for a United States dollar stablecoin using an Ethereum layer-2 blockchain.
The Hong Kong Monetary Authority is looking at retail CBDC use cases, such as the equity release of tokenized real estate assets with Ripple’s new CBDC product.
The world’s second-ever CBDC has yet to reach 1% of Nigeria’s population, according to the IMF assessment.
Central bank and tech giant to look at ways to minimise security risks with offline CBDC payments
Half of central banks say offline payments are “vital” to CBDC design
Group of 7 members met in Japan, where they discussed CBDCs and crypto regulation, with an eye toward quickly implementing the “Travel Rule” for crypto assets.
When asked about CBDCs during a conference on transportation, Kashkari had a response on the tip of his tongue, and it wasn’t encouraging for CBDC fans.
The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Korea’s central bank.
The new law, signed by Governor Ron DeSantis, also urges other states to take action against the potential introduction of CBDCs through their commercial codes.
According to the Bank for International Settlements, offline payments with CBDCs raise new risks related to counterfeiting, fraud and privacy concerns.
At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies.