SWIFT Plans New Central Bank Digital Currency Platform for Cross-Border Transfers LeapRate

March 27, 2024 BY Elizabeth Anderson

SWIFT Plans New Central Bank Digital Currency Platform for Cross-Border Transfers

This solution, known as the connector, reportedly enables the seamless incorporation of the use of CBDCs into business practices. Thirty-eight institutions participated in the experiment, including central commercial banks and markets. These included global leaders such as Deutsche Bank, Société Générale, ANZ and Citibank. The outcomes showed the innovation simplifies and expedites trade flows, promotes…

August 14, 2019 BY Valentina Kirilova

Chinese officials rush to announce Central Bank Digital Currency for Yuan

It has been no secret that the development arm of the Peoples Bank of China (PBoC) has been working diligently in the background over the past five years over some form of digital currency that would be nationalized and controlled by the central bank. The status of the project has always been in question, but,…

August 07, 2019 BY Valentina Kirilova

Chinese officials are resurrecting digital action plans after Libra backlash

If Chinese officials are acutely aware of one thing, it most certainly is their country’s constantly evolving position in the world politic and what might pose a competitive threat to that position at a later date. It is therefore not that difficult to understand that, after Facebook and its Libra Coin received a tongue lashing…

July 19, 2019 BY Valentina Kirilova

Iran announces gold-backed crypto coin – Is a global crypto war imminent?

Although recent press reports may contend otherwise, not all central banks are opposed to the notion of cryptocurrencies. The World Economic Forum released a report back in April that revealed that there are several ongoing central bank led projects that involve blockchain technology in support of what is called a Central Bank Digital Currency (CBDC).…

July 15, 2019 BY Valentina Kirilova

Chinese authorities may be contemplating a Central Bank Digital Currency

There is a maxim in corporate strategy that suggests that you may never be able to guess accurately guess how the market may receive a new product offering, but the moment the announcement is made, the consequences and reactions from competitors become abundantly clear immediately. Such may now be the case with Facebook’s Project Libra.…

Tag: Central Bank Digital Currency