It is estimated that more than 80% of central banks are considering launching a central bank digital currency (CBDC) or have already done so, according to the 2022 PwC CBDC Global Index, that analyzes and ranks the leading retail and wholesale CBDC projects. Retail CBDC projects (digital currencies designed for public use) have reached greater maturity levels than wholesale projects (digital currencies used by financial institutions that have accounts with […]
The White House has issued a sweeping executive order on the oversight of cryptocurrencies and prompted the Federal Reserve to step up the pace on exploration of the case for a central bank digital currency (CBDC). Digital assets, including cryptocurrencies, have seen explosive growth in recent years, surpassing a $3 trillion market cap last November and up from $14 billion just five years prior. Surveys suggest that around 16 percent of adult Americans – […]
Bank of Jamaica (BOJ) announced that it has successfully completed the Central Bank Digital Currency (CBDC) pilot. In March 2021, BOJ announced that it was testing a prototype central bank digital currency with vendor eCurrency Mint Inc. in BOJ’s Fintech Regulatory Sandbox. This was followed in May 2021 by the commencement of an 8-month long pilot which ends today, 31 December 2021. The scope of the CBDC pilot was limited to wallet […]