CBDC Cybersecurity To Be Tested By Hong Kong, Bank Of Israel And Bank For Int...
CBDC, or central bank digital currency, will be the main focus of three major financial and lending institutions to validate the feasibility of new digital currency system, the Bank of Israel said on Friday. Upon its launch in the third quarter of this year, the joint CBDC project by the Bank of Israel, Hong Kong […]
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The Hong Kong Monetary Authority and the BIS Innovation Hub cooperated on a unique CBDC design that reflects the realities of money issuing in the special administrative region. The Hong Kong Monetary Authority presented its completed Aurum retail central bank digital currency (CBDC) prototype on Oct. 21. The system, developed in conjunction with the Bank for International Settlements (BIS) Innovation Hub, has a unique structure that reflects the intricacies of the existing system for issuing money in Hong Kong.Aurum consists of a wholesale interbank system and retail e-wallet. The....
SEBA Bank, a Switzerland-based crypto-focused bank, has secured an in-principal license to offer crypto services in Hong Kong. SEBA’s Hong Kong unit announced this achievement on August 30. The Securities and Futures Commission (SFC) license allows the bank to offer over-the-counter crypto derivatives and other products in Hong Kong. Also, SEBA Hong Kong said it […]
A group of banks in Hong Kong are reportedly developing a system that uses blockchain tech to share information about mortgage valuations. According to The Financial Times, the system is being tested by Bank of China and HSBC among a group of lenders in the region. If fully realized, the system will include participants from mortgage lenders in Hong Kong as well as surveyors, who will contribute valuation data. Involved in the testing of the system are the Hong Kong Monetary Authority and the Hong Kong Applied Science and Technology Research Institute (ASTRI), which earlier this year....
The bank has been exploring the introduction of a CBDC since 2017. The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency.In a statement from the central bank today, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel on the economy. Though the bank said it had not yet decided whether to issue a central bank digital currency, or CBDC, it added it would be prepared to do so should the benefits “outweigh the costs and potential risks.”The central bank said it may consider issuing a CBDC if....
Despite the pilot, the central bank's deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a "pyramid scam." The Bank of Israel has reportedly already issued a central bank digital currency through a pilot test of a digital shekel.According to a Monday report from the Jerusalem Post, Bank of Israel deputy governor, Andrew Abir, said the financial institution had started to conduct a pilot program for a digital shekel. Speaking at a conference of the Fair Value Forum of IDC Herzliya, Abir added that he was not optimistic about the....