BoE hasn't 'made any decision' regarding a CBDC, says fintech director
“We will continue to explore the pros and cons of CBDC,” said Tom Mutton. At the 2nd Bund Summit held on Oct. 25, Bank of England fintech director Tom Mutton stated that while a central bank digital currency, or CBDC, was “a focus” for the Bank of England, the position the bank had taken this past March hadn’t changed. “We haven’t made any decision on whether or not to launch a retail CBDC,” said Mutton. “But we are exploring the pros and cons with interest.”Specifically, the BoE exec stated the central bank was looking into payment options for people in the U.K. who were affected by the....
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Stakeholders believe that the digital shekel would boost competition, but remain divided on the matter of privacy. Despite the fact that it still hasn't made a final decision on the launch of the “digital shekel,” Israel’s central bank reported that the public feedback on the project is mainly positive.According to Reuters, on Monday, The Bank of Israel summarized the results of the public consultation on its central bank digital currency (CBDC) plans. It has received 33 responses from different sectors, with half of them coming from abroad and 17 from the domestic fintech community. While....
The trial may lead up to the introduction of a CBDC in India before the end of this fiscal year, most likely in three steps; U.S.-based FIS is reportedly participating. The Reserve Bank of India (RBI) is in talks with fintech companies and state-controlled banks about a trial run of a central bank digital currency (CBDC), local publication Moneycontrol reported on Sept. 5. An unnamed public sector bank official told the publication that the trial may precede an RBI launch of a CBDC this fiscal year.U.S.-based financial services company FIS was mentioned as one of the fintech companies with....
The retail CBDC will be developed in partnership with private entities, which “would be the digital equivalent of today’s notes and coins.” The Monetary Authority of Singapore (MAS) has ramped up efforts to research and develop a central bank digital currency (CBDC) for retail use under the Project Orchid initiative. According to MAS managing director Ravi Menon, Singapore’s retail CBDC will be developed in a partnership with private entities, which “would be the digital equivalent of today’s notes and coins.”Speaking at the Singapore FinTech Festival, Menon highlighted the benefits of....
"The earliest date for launch of a U.K. CBDC would be in the second half of the decade,” said the Bank of England, adding no final decision has yet been made. The Bank of England and the United Kingdom finance ministry are planning to launch a consultation on the possible rollout of a central bank digital currency starting in 2022.In a Tuesday statement, the Bank of England said the digital pound consultation with HM Treasury would consider design features, benefits and implications for users and business, as well as other relevant issues. The results of the 2022 consultation will....
Ripple has clinched two prestigious awards at Juniper Research’s Future Digital Awards for Fintech & Payments 2023. Juniper Research revealed yesterday, on October 3, that the fintech company has been honored with the “Sustainability in Fintech Innovation of the Year” and the “CBDC Innovation” award. Ripple Impresses With Its CDBC Initiatives The “Sustainability in Fintech […]