Tag: CentralBanks

The Chinese government is making efforts to boost the adoption of CBDCs in the country. Recently, China launched its digital yuan, called e-CNY. To boost its adoption among its citizens, China added a new feature of sending money in electronic ‘red packets’ that cover displaying traditional wishes for special occasions like birthdays, the New Year,…

According to a new report on its priorities, the Central Bank of Russia (CBR) is working on integrating crypto assets into the local financial system. The CBR is also working on the digital ruble, a central bank digital currency (CBDC). The CBR released a report on digital assets and crypto regulation, focusing on integrating them…

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…

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…