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The Money Makeover: Will Central Bank Digital Currencies Break the Bank (Literally)?

The allure and peril of CBDCs. Cash may be king, but its reign is on shaky ground. Enter Central Bank Digital Currencies, the potential future of finance, whispered about in hushed tones by central bankers and tech titans alike. But before we all ditch our wallets for sleek digital wallets, a crucial question lingers: could …

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The Asian Countries That Actually Need A CBDC

Cambodia is one of the leaders in CBDCs in Asia. The use case for the country is clear. Here are the others. At the recent Singapore Fintech Festival, the city-state’s announcement that it would pursue a wholesale central bank digital currency (CBDC) pilot next year was big news, and justifiably so. As Southeast Asia’s key financial …

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Powell says Fed not “remotely close” to a central bank digital currency

By Pete Schroeder WASHINGTON, March 7 (Reuters) – Federal Reserve Chairman Jerome Powell significantly downplayed the possibility of the central bank issuing its own digital currency, and said if it ever came to pass, the government would play a limited role. Testifying before Congress Thursday, Powell said policymakers were “nowhere near” taking action on adopting such …

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A digital euro: gauging the financial stability implications

Central banks around the world have stepped up their efforts to explore and develop their own digital currencies (known as CBDCs),[1] an electronic equivalent to cash. New technologies in retail payments (e.g. mobile payments, digital wallets and the potential future deployment of crypto-asset payments) and changes in people’s payment habits have fuelled the interest of central banks …

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Central Bank Digital Currency Development Enters the Next Phase

Many of the world’s monetary authorities are seeking more guidance on how best to pursue digital forms of central bank money Central bank digital currencies can improve payment systems as well as financial inclusion—if they are appropriately designed. If not, they could pose risks. While not all countries may see an immediate case to deploy …

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Standard Chartered joins digital RMB business pilot

Today Standard Chartered in China said it is amongst the first foreign banks to take part in the digital yuan business pilot. It has started providing digital RMB exchange and redemption services via City Bank Clearing.  The Chinese arm of BNP Paribas started offering wallet services to corporate clients in May. And in July the Chinese arm of Singapore’s DBS Bank launched a …

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Etherscan acquires Solscan to expand its blockchain data services

Ethereum blockchain data services company Etherscan announced Wednesday that it has acquired Solscan, a block explorer for the Solana blockchain, in a bid to expand its capabilities across multiple blockchains. Built and launched in 2015, Etherscan is a block explorer for the Ethereum blockchain, which means it provides access to blockchain data and allows users to search, …

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Blockchain adoption ‘accelerating very quickly’ in big finance — Franklin Templeton exec

Franklin Templeton executive Sandy Kaul said in a report that a pathway to reengineering the global financial markets can be seen for the first time. Major financial firms like JPMorgan and the Hong Kong and Shanghai Banking Corporation (HSBC) have ramped up their blockchain-related activities heading into 2024, accelerating the adoption of distributed ledger technology …

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How user-friendly Web3 wallets bridge the gap between TradFi and DeFi

This multichain crypto wallet makes DeFi accessible and user-friendly, paving the way for mass adoption. Decentralized finance needs simplicity to get any interest from everyday users. StrikeX delivers a wallet with an easy-to-use mobile app to onboard more users to DeFi. The current wave of the tech revolution, with blockchain at the forefront, is changing the …

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Square Enix will modify organizational structure to support blockchain, Web3, AI in 2024

The company president says Square Enix will be “aggressive” in its application of AI and other cutting-edge technologies. NEWS Multimedia entertainment company Square Enix is working to modify its organizational structure and optimize company resource allocation to support a renewed focus on implementing artificial intelligence (AI), blockchain, Web3 and cloud technologies in 2024. Square Enix …

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