New York Fed Partners with MAS to Research The Benefits of Wholesale CBDCs

The  New York Innovation Center, as part of the Federal Reserve Bank of New York and Singapore’s Central Bank (MAS), has jointly announced their plans to work together to assess the efficacy of large-scale central bank digital currencies (wCBDCs). Central Bank Digital Currency (CBDC) is a form of digital fiat money that has previously been […]

Swiss National Bank Official: Central Banks Can Popularize Defi

Thomas Moser, a Swiss National Bank board member, has voiced his concern. CBDC offers the most significant stability potential and provides the fewest dangers to DeFi’s growth, he says (SNB). Moser told Cointelegraph; stablecoins are sectors such as DeFi that need a stable currency to grow. The Push Toward Digital Asset Centralization In contrast to […]

Nigeria And Binance To Build A Crypto-friendly Economic Zone

Binance and Nigeria are working together to launch a digital economic zone in Nigeria. This digital economic zone, similar to the virtual free zone in Dubai, will be fueled by blockchain tech.  Digital Economic Zone To Support Blockchain And Crypto Businesses In 2022, Binance has been expanding to various parts of the world, preaching crypto […]

Central Bank of Armenia Asked to Regulate Cryptocurrencies

Regulatory authorities all over the globe are looking into regulating cryptocurrencies and the central bank in Armenia has also been told to do the same. Several calls have been issued in the country for regulating the crypto space. People from the financial sector and government officials both believe that it is necessary to introduce regulations […]

China Donates Free Digital Yuan To Residents As CBDC Testing Continues

Approximately $2.29M worth of digital Yuan will be distributed to citizens of Shenzhen as China continues its CBDC testing program. The Chinese government would provide 15M Yuan in digital currency to 130,000 people. Lottery System For The CBDC Giveaway  In addition, there will be no purchase requirement for this CBDC, making it applicable at over […]

Jamaica Set to Airdrop $16 To Early Adopters of CBDC Wallet

Jamaica is a crypto-friendly country, and its government has accepted and is trying to include digital currency in the broad scheme of things.  The country has a new central bank digital currency (CBDC) called Jam-Dex, and as an incentive to use this currency, the Jamaican government has said that it will give 2500 Jamaican dollars […]

Digital Ruble Will Make BTC And Other Private Cryptos Irrelevant – Russian Billionaire

One of Russia’s wealthiest men, Vladimir Potanin, has claimed that national digital currencies such as the digital ruble have more real-world meaning than BTC and other private digital currencies. Potanin made his opinion known among the two digital currencies in the latest Bloomberg interview. National Digital Currencies Are The Future Of The Finance World – […]

Edward Snowden: CBDC Is Not A True Cryptocurrency

There was a time when investors, traders, or even the simplest of businessmen used to do their business in gold. At the time, it was the only acceptable mode of payment on a global scale. Then the mean of economic development rolled, and we were using coins made of bronze and aluminium to preserve gold […]

PBoC Predicts an Increase in Demand of China’s CBDC after Bitcoin’s Price Jumps

Bitcoin’s increasing price value is one of the leading reasons why people are focusing more on other cryptocurrency alternatives, says the representative of People’s Bank of China.  There is no country more advance than China when it comes to developing a digital currency such as CBDC, formally known as Central Bank Digital Currency. After carrying […]