CBDCs

IMF Chief: Crypto ‘Offers Us All Faster Service, Much Lower Cost, and More Inclusion’

Recently, Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), shared her thoughts on cryptoassets in general and stablecoins and central bank digital currencies (CBDCs) in particular. The IMF, which was established on 27 December 1945, “works to achieve sustainable growth and prosperity for all of its 190 member countries” by “supporting economic policies that […]

Former Developer Advocate at Ripple Explains Why ‘XRP Has Stayed in the Top Ten’

On Tuesday (May 31), Matt Hamilton, who is currently Director of Developer Relations at Bittensor, explained why digital asset $XRP has been able to stay among the top 10 cryptoassets by market cap. Between February 2021 and September 2021, Hamilton worked at Ripple as Director of Developer Relations, and between September 2021 and March 2022, […]

$XLM: Stellar Development Foundation (SDF) Partners With Brazil’s Mercado Bitcoin

Mercado Bitcoin, Latin America’s largest crypto exchange, has announced a partnership with the Stellar Development Foundation (SDF) to create a project that will explore use cases for a central bank digital currency (CBDC).  The SDF is “a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar network.” The SDF […]

European Central Bank President Christine Lagarde Says Her Son Invested in Crypto

On Sunday (May 22), Christine Lagarde, President of European Central Bank (ECB), made a number of interesting comments about crypto while appearing as a guest on Dutch TV show “College Tour“. The Paris-born French politician, economist, and lawyer has been the ECB President since November 2019. Before then, she served for over eight years as […]

Swiss National Bank Explains Why It Has Not Put Bitcoin on Its Balance Sheet So Far

Thomas Jordan, the Chairman of the Governing Board of the Swiss National Bank (SNB) talked about Bitcoin in Berne during the central bank’s 114th Ordinary General Meeting of Shareholders on Friday (April 29). The SNB, which has “two head offices one in Berne and one in Zurich, as well as a branch office in Singapore”, […]

U.S. Treasury Secretary on ‘Digital Assets Policy, Innovation, and Regulation’

On Thursday (April 7), U.S. Treasury Secretary Dr. Janet Yellen gave a speech on “digital assets policy, innovation, and regulation” at American University’s Kogod School of Business Center for Innovation. Below are some key highlights from Yellen’s speech (based on the press release issued by the U.S. Department of the Treasury). Yellen started by reminding the attendees […]

Ripple: Key Findings of the ‘Crypto Trends in Business and Beyond’ Report

Earlier this month, FinTech firm Ripple released a report titled “Crypto Trends in Business and Beyond” about a “blockchain-driven landscape” that it calls the “Internet of Value”. Ripple’s 44-page research report — which “focuses on the role of key blockchain use cases like payments and DeFi, and the token types — often referred to as […]

Ripple Partners With Digital Euro Association to Work on CBDCs

On Friday (February 11), the Digital Euro Association (DEA) announced that it was “delighted” about a new partnership with FinTech firm Ripple. The Digital Euro Association (DEA) is “a think tank specializing in central bank digital currencies (CBDCs), stablecoins, crypto assets, and other forms of digital money.” Its mission is “to contribute to the public […]

Ripple’s APAC Policy Director: ‘ODL Can Be Used as a Neutral Bridge Between CBDCs’

In a recent interview, Rahul Advani, APAC Policy Director at Ripple, talked about RippleNet’s On-Demand Liquidity (ODL) service, which is powered by digital asset XRP. Advani’s comments were made during an interview with financial news platform Bread. When asked how Ripple plans to “adapt to the growing demand for crypto-based cross-border settlements”, he replied: “A […]

$XLM: Ukraine Uses Stellar To Pilot New Digital Currency Program

Ukraine’s central bank is supervising a new digital currency pilot program using the Stellar blockchain.  According to a press release by FinTech firm Bitt, it is working with TASCOMBANK, which is one of Ukraine’s oldest commercial banks, on a pilot project to create an electronic version of Ukraine’s national currency “hryvnia” (UAH) on Stellar. As […]

The CBDC Dilemma: Finding the Perfect Balance Between Privacy and Control

Written by Alexander Vasiliev, co-founder and CCO of the global payment network Mercuryo As the crypto industry matured, stablecoins have become the go-to way for market participants to exchange between “standard” cryptocurrencies and digital assets pegged to fiat currencies. Since anyone can issue a stablecoin, governments worldwide have raised concerns over the potential risks to […]

Ripple: Western Pacific Nation’s Upcoming Digital Currency Could Be Powered by XRP Ledger

Recently, FinTech firm Ripple talked about its newly formed partnership with a small Western Pacific nation. In a blog posted published on Tuesday (November 23), Ripple announced “a new partnership with the Republic of Palau to explore the country’s first national digital currency and its use cases with the XRP Ledger (XRPL).” Here is some […]

Britcoin: a Booster for the UK’s Economy?

Written by: Konstantin Anissimov, Executive Director at CEX.IO  Central bank digital currencies (CBDCs) have become the center of focus for many governments, seeing as how their integration can fundamentally change existing payments ecosystems worldwide.  CBDCs are operated by respective federal banks and only five countries have deployed their versions of these digital currencies so far […]

Ripple Helping Bhutan’s Royal Monetary Authority (RMA) With a CBDC Project

California-headquartered FinTech firm Ripple has announced a partnership with the central bank of the Kingdom of Bhutan, which is a landlocked country in the Eastern Himalayas. According to the blog post Ripple published last Wednesday (September 22), the basic idea of this partnership is to help Bhutan’s central bank (aka “Royal Monetary Authority”) “use Ripple’s CBDC […]

Asset Strategies International President: CBDCs Were ‘Concocted in Hell by Satan Himself’

Rich Checkan, the President of Asset Strategies International (ASI) is apparently not a fan of central bank digital currencies (CBDCs). In a recent interview with Michelle Makori, editor-in-chief of Kitco News, Checkan railed against the development and adoption of CBDCs. He said the digital form of money was a threat to individual privacy and opened […]

It’s a Bad Idea To Give Legal Tender Status to Cryptoassets Such As Bitcoin, Says IMF

On Monday (July 26), the International Monetary Fund (IMF) explained in a blog post why it is a bad idea for countries to pass laws to make cryptoassets (such as Bitcoin) national currencies instead of creating their own central bank digital currencies (CBDCs). The IMF, which was established on 27 December 1945, is “an organization of 189 […]

CEO of Russia’s Second-Largest Bank: “We Don’t Like Bitcoin. We Think It’s Like Making Fake Money. “

Earlier this week, the CEOs of two of Russia’s largest banks shared their thoughts on Bitcoin. According to a report by Cointelegraph, during a recent interview with local TV channel NTV, Sberbank CEO Herman Gref called Bitcoin “probably the riskiest type of investment alongside the equity market”. Gref said that although putting money in a […]

What Does The Digital Pound Mean For Britain?

Written by: Konstantin Anissimov, executive director of the international cryptocurrency exchange CEX.IO. Graduated the Executive MBA program at the University of Cambridge. His area of responsibility at CEX.IO includes customer relationships with institutional and VIP-clients, overseeing the creation of the company’s development strategy, new products, markets and partnerships. As a member of the board of directors, Konstantin is […]

Bitcoin Cannot Replace Fiat Currency, Says Central Bank of World’s Most Cashless Country

Oystein Olsen, the governor of Norges Bank in Oslo, the central bank of Norway, recently explained why he does not believe that Bitcoin could one day replace money issued by central banks. According to a report published by Bloomberg, he said during a phone interview that Bitcoin is “far too resource-intensive, far too costly and […]

CPA Australia Report: Ripple and XRP ‘Enjoy the Trust of Many Banks as a Model for CBDCs’

A recent 47-page report—titled “Central Bank Digital Currencies (CBDCs): A Comparative Review”—prepared for professional accounting body CPA Australia by RMIT University “provides a review of the three most-transacted digital currencies – Bitcoin, Ether and XRP.” The report looks at several definitions of CBDCs. Here is one of them: “… possibly issued on a blockchain platform, […]

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