Tag: CBDC

Iran’s government is taking steps in preparation for the launch of a new digital currency, referred to as the crypto rial. The monetary authority in Tehran hopes to initiate the project’s pilot phase within the next two months. The authorities of the Islamic Republic are taking the necessary measures to launch a pilot of the…

Qatar is actively exploring the possibilities of launching its first central bank digital currency (CBDC). If this happens, the country will become the first Arab nation to launch a CBDC. Meanwhile, the central banks in Saudi Arabia and UAE are collaborating on blockchain projects in the financial sector. Speaking at the recently concluded Bloomberg-powered Qatar…

The European Union could issue a digital euro within four years, a senior official from the European Central Bank (ECB) said. Peer-to-peer payments could be a first test case, though no final decision has been made yet. “At the end of 2023 we could decide to start a realization phase to develop and test the…

Few people today doubt that in a few years, central bank digital currencies (CBDCs) will be as widespread as cash is now. But so far, no one can tell how exactly Western countries will approach their digital money. And this question, as you are about to see, is hardly a trivial one. If you discount…

The Qatar Central Bank (QCB) is currently exploring a central bank digital currency (CBDC) and digital bank licensing, a top official said. The Middle Eastern nation is also weighing issuing licenses for digital banks as it seeks to digitize payments. The Qatar Central Bank intends to soon reveal its direction on CBDCs, Alanood Abdullah Al…

The Bank for International Settlements (BIS) Innovation Hub collaborated with central banks from Australia, Malaysia, Singapore, and South Africa to develop prototypes of two versions for an international settlement platform that uses different central bank digital currencies (CBDCs). According to the executive summary of the report, the project’s first phase was successful in developing functioning…