Asian CBDC projects: What are they doing now?
Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar? The rapid growth of mainstream attention toward cryptocurrencies has forced the hands of numerous governments to create their digital alternatives. Over the past few years, interest from various jurisdictions has been pointed towards central bank digital currencies (CBDCs) — digital versions of government-issued fiat.Given their capacity to use blockchain technology to facilitate a simplified fiscal policy — not to mention calibrate privacy features and....
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LINE reportedly said it has several "major" Asian nations in discussions over using the CBDC platform.
On Friday, the International Monetary Fund (IMF) and the World Bank argued for the cross-border benefits of central bank-issued digital currencies (CBDC), claiming that projects like the United States’ digital dollar would aid global development. World Bank And IMF Support CBDC Together with the Bank for International Settlements (BIS), the two global organisations released a […]
The Retail CBDC will be tested in a limited retail environment with 10,000 participants and three major banks. On top of its wholesale central bank digital currency (CBDC) projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand (BOT) will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the "Retail CBDC" will be conducted inside the private sector on a limited scale. As the Aug. 5 announcement on the official page of the BOT goes:“The BOT will assess the benefits and associated risks from the Pilot to....
Malaysia’s central bank recently completed a proof-of-concept for a CBDC with three other nations and may consider developing its own cross-border payment system using the blockchain. Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC).Malaysia’s central bank, Bank Negara Malaysia, stated to Bloomberg on Jan. 17 that while a decision about exactly how to move forward with a CBDC has not yet been determined, it has focused research on a CBDC “via proof-of-concept and experimentation to enhance our....