China is among the largest nations in the world, that is experimenting extensively with its CBDC initiative. In a fresh development, China’s Changshu city has reportedly decided to compensate all civil servants within its jurisdiction in the form of the e-CNY CBDC. This marks the first time that the Chinese CBDC has been recognised as … Read more
After India and China, that have led the CBDC revolution in Asia, Hong Kong is accelerating its efforts to introduce a national digital currency in their existing financial system. The administration of Hong Kong is currently working on the roadmap to introduce the e-HKD CBDC to its estimated population of over 7.5 million in the … Read more
Japan is stepping up efforts toward issuing a digital yen with the creation of a government advisory panel and the launch of a pilot programme, joining a growing number of countries exploring a central bank digital currency (CBDC). The finance ministry will set up a panel of experts as early as April to discuss the … Read more
India’s digital rupee CBDC, that was launched as part of a pilot test phase in November last year, is set to undergo trials on an international level. The Reserve Bank of India (RBI) has teamed up with the Central Bank of the UAE (CBUAE) to test the interoperability of its e₹-R CBDC. Both, RBI and … Read more
WeChat has added in-app support for China’s e-CNY CBDC in order to get more nationals to use the digital currency. Owned by tech giant Tencent, WeChat is China’s equivalent to WhatsApp, offering an array of social networking mediums as well as a bank-to-bank payment option. As per statistics tracker Oberio, WeChat is estimated to have … Read more
Dubai has been taking several pro-crypto steps to establish itself as a crypto hub. The city has now released a set of new regulations that would be mandated to be adhered to by crypto firms looking to operate from Dubai. Four rulebooks have been prepared for crypto service providers, detailing the regulations. In addition, several … Read more
The central bank of Australia is tapping into the next, more advanced phase of finetuning its e-currency, named the eAUD. The country, which had been working on developing its central bank digital currency (CBDC) for a while now, has decided to launch the eAUD in its pilot trial phase. The development was confirmed by the … Read more
India is forging ahead with the trials of its central bank digital currency (CBDC) dubbed as the digital rupee (e₹-R) with each passing day. To use the digital rupee, Indians will have to download a designated CBDC app, link their bank accounts to this app, convert their money to the CBDC before being able to … Read more
Japan is all set to catch up with nations like India, China, and Russia in expediating the development and trials of its central bank digital currency (CBDC). The Asian nation is set to launch its digital currency in its pilot phase starting April. The development was announced on Friday, February 17, by Shinichi Uchida, the … Read more
The UAE is all geared up to take crucial steps to transform its existing financial systems with emerging next-gen fintech tools. After creating a supportive ecosystem for the crypto industry, the UAE is now turning its focus to include its central bank digital currency (CBDC) to the economy. CBDCs are built on the blockchain network … Read more