Central Banks Settle Cross-Border Payments With Blockchain for First Time

The central banks of Canada and Singapore have concluded a trial of cross-border payments using blockchain technology and central bank digital currencies. The Bank of Canada (BoC) and the Monetary Authority of Singapore (MAS) jointly announced Thursday that the successful trial – the first of its kind between two central banks – showed "great poten...
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212 Hits

Central banks should consider issuing digital currencies: IMF chief

  Christine Lagarde, head of the International Monetary Fund (IMF), recently gave her views on digital currencies issued by various central banks to prevent the incidents of fraud and money laundering. Lagarde made her statements at the Singapore Fintech Festival, which was held on Monday. "Your deposits in commercial banks are already digital...
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345 Hits

Bitcoin [BTC] can be a ‘potential asset’ for central banks, says Wall Street billionaire Bill Miller

Bill Miller, a billionaire investor, stated that Bitcoin [BTC] is the cryptocurrency which has the most probability of being successful. He also spoke about the strategies for evaluating the value of the cryptocurrency. Miller, who is described as being a "Bitcoin observer", spoke to Bloomberg in an interview earlier this week. He elaborated upon h...
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351 Hits

Hong Kong’s Central Bank is Launching a Blockchain Trade Finance Platform

The Hong Kong Monetary Authority (HKMA) is preparing to launch a live blockchain trade finance platform. The bank, which serves as the de facto central bank of the autonomous region, will launch its trade finance platform within the next two months. According to a report from the Financial Times on Monday, the HKMA's blockchain platform has 21 bank...
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291 Hits

Fiat-to-Crypto in the Philippines Approaches $40 Million Per Month Despite Price Woes

A central bank official has said that digital currency conversions in the Philippines — a country where the coins are considered legal tender — hit nearly $40 million in recent months. Central Bank's Crypto-Friendly Policy Conversions from pesos to digital coins averaged $36.74 million per month in the first quarter, according to Deputy Governor Ch...
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316 Hits

Bahamas Central Bank to Launch Pilot Digital Currency

The Central Bank of the Bahamas is planning to introduce a government-backed pilot digital currency , Jamaica Observer reported June 22. Speaking at the Bahamas Blockchain and Cryptocurrency Conference earlier this week, Deputy Prime Minister and Minister of Finance of the Bahamas, K Peter Turnquest, made the announcement, saying that the developme...
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265 Hits

Bank of Italy Deputy Governor: Gov’t Cryptocurrencies Can Save EU up to €76 Bln

  Fabio Panetta, deputy governor of the Bank of Italy, gave a keynote address focused on central bank digital currencies (CBDCs) at the SUERF/BAFFI CAREFIN Centre Conference in Milan Thursday, June 7. Unlike cryptocurrencies - "a liability belonging to nobody" - the deputy governor stressed from the outset that a CBDC would be a liability of t...
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South Africa’s Central Bank Pilots Tokenized Fiat Interbank Payment System

  South Africa's Central Bank (SARB) has successfully piloted a Proof-of-Concept (PoC) for an interbank payment system that tokenizes fiat using Quorum , according to an SARB press release published June 5th. Quorum is an Ethereum -based private blockchain. According to SARB's report on the pilot, dubbed 'Project Khokha,' all of the bank's goa...
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413 Hits