digital

Europe Has Fallen Behind on Digital Payments, Lagarde Says

Europe Has Fallen Behind on Digital Payments, Lagarde Says

A European Central Bank (ECB) panel tasked with exploring a central bank digital currency (CBDC) is set to reveal its findings in the near future, followed by a public consultation, said ECB President Christine Lagarde. Speaking at the Deutsche Bundesbank’s conference on banking and payments in the digital world Thursday, Lagarde addressed the competition to …

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This Swiss e-commerce giant accepted payment in digital franc

This Swiss e-commerce giant accepted payment in digital franc

Sygnum, a digital assets bank in Switzerland announced in a release that it enabled the world’s first e-commerce transaction that involved using a stable coin. The transaction took place on the shopping site Galaxus which is one of the biggest retailers in Switzerland. The stablecoin which is known as DCHF or Digital Swiss Franc was …

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The Bahamas’s central bank put its digital currency on its official balance sheet in April

The Bahamas’s central bank put its digital currency on its official balance sheet in April

In a financial statement published in late April, the Central Bank of The Bahamas achieved a little-known milestone — including its brand-new digital currency on its balance sheet. First included on page forty-seven of its annual report, the central bank noted that it had put $48,000 worth of the Sand Dollar into circulation. The document …

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MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency

MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency

The idea of wholly digital currencies isn’t a new one, but it was bitcoin that added extra fuel to that long-running conversation, according to Neha Narula, director of MIT Digital Currency Initiative. Her comments were included in The Block’s new wide-ranging report on central bank digital currencies, which covers a range of R&D initiatives from …

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The Interchange: Could Fed insecurities push FedNow to beat digital dollars to the punch?

Quick Take The Fed is behind the ball on real-time payments solutions relative to other advanced economies The door is still open in the U.S. for stablecoins and so-called digital dollars to offer improved payment capabilities, but that assumes ubiquitous real-time payments isn’t already readily available Originally slated for a 2023/2024 roll-out, Fed Governor Brainard …

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Central bank of the Philippines is considering issuing its own digital currency

Central bank of the Philippines is considering issuing its own digital currency

The central bank of the Philippines, locally called the Bangko Sentral ng Pilipinas (BSP), is looking at the feasibility of issuing its own digital currency. Bloomberg reported the news on Wednesday, saying that the central bank has created a committee to study digital currencies and its policy implications. Governor Benjamin Diokno said the central bank …

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Federal Reserve Bank of Boston’s Bench says the U.S. ‘better be ready’ for a future digital currency issuance

Federal Reserve Bank of Boston’s Bench says the U.S. ‘better be ready’ for a future digital currency issuance

The Federal Reserve — the U.S. central bank — has no immediate plans to launch a digital currency. But that doesn’t mean it shouldn’t be ready when that day comes, according to Robert Bench, assistant vice president in the secure payments group at the Federal Reserve Bank of Boston. During a recent webinar hosted by …

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Japan’s central bank sets up new team to research digital currencies

Japan’s central bank sets up new team to research digital currencies

The Bank of Japan (BOJ), the country’s central bank, has set up a new dedicated team to further study digital currencies. Reuters reported the news on Sunday, saying that the team is part of the central bank’s payment and settlement systems division. Members of the team are not yet known. The news comes just days …

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