Tag: CBDC

The UAE’s Central Bank (CBUAE) has announced the completion of “the world’s largest pilot” of central bank digital currency (CBDC) in collaboration with the central banks of four countries. Central banks from Thailand, Hong Kong, and China, with more than 20 commercial banks from these countries, took part in the pilot, recording over $21 million…

Nigerian digital currency, eNaira, seems not as popular as it was touted to be. As Bloomberg reported, less than 0.5% of Nigerians have used the eNaira, the central bank digital currency (CBDC) launched last year by the Central Bank of Nigeria (CBN). According to a Bloomberg report, the population faced a lack of clarity from…

Top crypto news from the Middle East region over the last week (Sept. 17–23, 2022): Islamic finance sector sees growth opportunities in crypto and metaverse New research of IslamicMarkets.com with leading Islamic finance professionals shows growing acceptance of crypto and digital assets and rising interest in the metaverse. Nearly 63% predict the adoption of crypto…

Amazon is among five companies to develop a digital euro prototype, as the European Central Bank (ECB) revealed its selected partners to collaborate. Amazon will be responsible for designing e-commerce payments during the prototyping exercise from September to December 2022. Meanwhile, Binance CEO praised the EU regulatory framework as a global standard for crypto regulations….

Saudi Arabia’s banking regulator appointed Mohsen Al Zahrani to lead its virtual assets and central bank digital currency (CBDC) program, reflecting the Gulf state’s potential crypto ambitions. So far, Saudi Arabia has taken a more cautious approach to virtual assets, with officials raising concerns about their speculative nature. Yet the emergence of the neighboring UAE…

President of the Central African Republic Faustin-Archange Touadera announced on July 3 that the country would be launching its own CBDC, Sango Coin. The national-backed cryptocurrency initiative to increase the opportunities to build the digital assets industry in the country was revealed during the ‘Sango Genesis’ online conference. Besides the announcement of a CBDC, speakers…