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In an interview over the weekend, PayPal CEO, Dan Schulman, described how his firm could provide an intermediary service distributing a potential United States central bank digital currency (CBDC), should the Federal Reserve Board decide to follow through.
Bank of England (BoE), the UK’s central bank and the world’s eighth-oldest bank, said it would form a task force to explore the launch of a digital currency, as per an official release today.
Six government-backed banks in China are testing e-wallet services for the upcoming digital yuan, local outlet Sina News reported ealier this week.
The Chinese government is hoping to maximize the privacy settings on the upcoming digital yuan, the state’s native Central Bank Digital Currency (CBDC), a report on local publication SCMP said Monday.
A little less than two years ago, the International Monetary Fund (IMF) published a research paper on the rise of digital money.
Jerome Powell, head of the US Federal Reserve, said state-backed digital currencies and official Central Bank Digital Currencies (CBDCs) can function alongside fiat money in the coming years, as per a report on business outlet Bloomberg on Thursday.
The COVID-19 pandemic has accelerated the trend of cashless payments, with central banks racing to develop and test digital currencies.
The crypto skeptic made the comments in an online discussion during this year’s Davos agenda.
Stellar, the world’s 14th-largest cryptocurrency, was selected by the European country for the latter’s upcoming state-backed digital currency.
A cold war is brewing in the financial world.
With all institutional attention on Bitcoin as of late, Ethereum has received little love from the corporations and governments of the world.
Ajay Banga, CEO of global payments and card technology firm Mastercard, is not sold on the Bitcoin promise of banking the unbanked individuals, he said in an interview with Fortune yesterday.
Between decentralized finance (DeFi) shenanigans, Bitcoin being adopted by firms like Square, and more, it’s been hard to track all news going on in this space.
Bank of Canada analysts raised concerns over the use of Central Bank Digital Currencies (CBDCs) as countries around the world weight the use of digital tokens instead of paper-based money.