Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), warns that fiat currencies are rapidly being transformed by digitalization. In a recent statement, she highlighted the accelerating […]
Singapore’s MAS Launches BLOOM Initiative to Revolutionize Financial Settlements
The Monetary Authority of Singapore (MAS) has launched BLOOM, a pioneering initiative aimed at transforming financial settlements. This borderless framework, encompassing Liquidity, Openness, Online operations, and Multi-currency functionality, […]
ECB Digital Euro Raises Concerns About Bank Stability
The European Central Bank (ECB) has issued a warning that its planned digital euro could impact bank stability, potentially causing billions in deposits to shift away from traditional […]
ECB Digital Euro Raises Concerns About Bank Disintermediation, Safeguards Implemented
The European Central Bank (ECB) released a study highlighting potential risks associated with its digital euro project in Europe, including concerns about bank deposit outflows. These findings raise […]
Global Banks Join Forces to Develop Reserve-Backed Digital Currency
A coalition of leading global financial institutions has initiated a groundbreaking initiative to explore the creation of a 1:1 reserve-backed digital money, specifically designed for public blockchain networks […]
Russia Tightens Crypto Controls for Retail Investors, Focuses on Bank Participation
Russia’s central bank has imposed strict restrictions on retail crypto activities while permitting limited operations for banks and institutions. This shift prioritizes the development of the Digital Ruble […]
Macau Launches Digital Pataca Prototype, Bolsters Regional Financial Ties
The Macau Monetary Authority (AMCM) has taken a significant step forward in its digital currency initiative, unveiling the first prototype for the Digital Pataca, anticipated to be fully […]
Uganda Launches Pilot for its First Digital Currency
Uganda’s journey towards modernizing its financial system has taken a significant step forward with the launch of a pilot program for its first Central Bank Digital Currency (CBDC). […]
North Dakota Invests in Stablecoin to Modernize Finance
The state of North Dakota is partnering with Fiserv to launch ‘Roughrider,’ a state-backed stablecoin designed for enhanced efficiency within its financial ecosystem. This move signifies North Dakota’s […]
Deutsche Bank Analyst Examines Bitcoin’s Potential Role by 2030
In a new report, Deutsche Bank analyst Marion Laboure examines Bitcoin’s potential as a digital gold asset. While highlighting the cryptocurrency’s speculative nature and high volatility as risks, […]
India to Launch Sovereign Digital Currency: New Era of Payments Begins
India’s Union Minister Piyush Goyal announced a groundbreaking move – the launch of a sovereign RBI-backed digital currency. This initiative, poised to redefine how 1.4 billion citizens transact […]
India Intensifies Digital Rupee Push, Favoring State-Backed Currency
To reduce reliance on private cryptocurrencies and streamline transactions, India is prioritizing its central bank digital currency (CBDC) rollout. Piyush Goyal, the Union Minister for Commerce and Industry, […]
India Unveils RBI-Backed Digital Currency Plan
Indian Union Minister Piyush Goyal has announced plans to launch a new digital currency backed by the Reserve Bank of India (RBI). This move aims to revolutionize financial […]
India Takes Action: Launches RBI-Backed Digital Currency
India is advancing its digital currency strategy with the launch of the e-Rupee, backed by the Reserve Bank of India (RBI). This move seeks to address the challenges […]
Venezuela Embraces Digital Dollars in Response to Economic Crisis
In the midst of Venezuela’s severe economic crisis marked by soaring inflation, digital currencies, particularly Tether’s USDT, have emerged as a vital tool for managing transactions. As inflation […]