BIS Innovation Hub, Bank of Israel and Hong Kong Monetary Authority will cooperate to test retail CBDC

Project „Sela”[1] will focus on Two-Tier Retail CBDC with Exposure-less Cyber Secure Intermediaries The BIS Innovation Hub, the Bank of Israel and the Hong Kong Monetary Authority will join forces to test the feasibility of a cyber secure two-tier retail CBDC. In the proposed model the intermediaries will have no financial exposure resulting from their customers’ on-boarding, holding or transferring CBDC, therefore reducing the risk and costs associated with financial intermediation. […]

North Macedonia considering digital denar

North Macedonia’s central bank is exploring the option to introduce a digital version of the country’s official currency, the Macedonian denar. Since the 2008/2009 Global Financial Crisis and the experiences of the COVID crisis, in a time of accelerated changes on the world stage as a result of globalization, digitalization and financial innovation, the mandate of central banks has been constantly changing and expanding with new functions. „Among other things, […]

E-krona could be integrated into banks’ existing systems – Riksbank

„It should be possible to integrate an e-krona into banks’ and payment service providers’ own existing systems,” says Riksbank after testing a technical solution for a potential e-krona. The results are summarised in a new report from the e-krona project, which was published today. In February 2021, the second phase of the e-krona pilot project began. The aim of the work was to continue investigating and testing the technical solution […]

Around 100 countries are now exploring the potential development and issuance of a central bank digital currency – IMF report

Around 100 countries are now exploring the potential development and issuance of a central bank digital currency (CBDC), and the challenges and opportunities identified by these research projects reveal a need for “increased international information-sharing of insights learned”, according to an International Monetary Fund (IMF) report. ‘Behind the Scenes of Central Bank Digital Currency: Emerging Trends, Insights and Policy Lessons’ focuses on six CBDC projects at different stages of development […]

Project Dunbar: international settlements using multi-CBDCs

Project Dunbar will develop prototypes for shared platforms that will enable international settlements with digital currencies issued by multiple central banks. System aims to allow direct transactions between institutions, reducing costs and increasing speed. The Bank for International Settlements Innovation Hub, the Reserve Bank of Australia, Bank Negara Malaysia, Monetary Authority of Singapore, and South African Reserve Bank will join forces to test the use of central bank digital currencies (CBDCs) […]