Page 13 - Cbdc News Today

A person aware of the development told ET that according to current classifications, banks holdings of the CBDC could be eligible for other mandatory reserve requirements but not the CRR.

Malaysia approves digital asset exchange license, stablecoin partnership in Philippines and Singapore banks stepping up verification processes for bank account opening.

Takis Georgakopoulos, the global head of payments at JPMorgan, has emphasised that while India has a multitude of fintech companies, they should strive to enhance their operations profitability by moving up the value chain. In an interview with Rozebud Gonsalves, he also discusses the potentially uneven path toward central bank digital currencies (CBDCs). Below are summarised excerpts from the interview.

Unlocking Financial Modernization: A Case Study of Ripples CBDC Platform and stablecoin Adoption in Palau

Takis Georgakopoulos, the global head of payments at JPMorgan, has emphasised that while India has a multitude of fintech companies, they should strive to enhance their operations profitability by moving up the value chain. In an interview with Rozebud Gonsalves, he also discusses the potentially uneven path toward central bank digital currencies (CBDCs). Below are summarised excerpts from the interview.

BIS announced Projects Mariana and Mandala with Asian central banks. UBS launched its tokenized VCC fund in Singapore. HKEX builds smart contract settlement platform.

The Bank of Korea (BOK) announced its first move toward adopting a central bank digital currency (CBDC). A CBDC is a new form of digital money issued by a central bank.

India is in discussions with other jurisdictions to address the high cost of cross-border remittances, according to Reserve Bank Deputy Governor T Rabi Sankar. He described the current situation as "unconscionable" given the availability of cheap data connectivity. Sankar suggested that the introduction of a central bank digital currency (CBDC) could lower the cost of cross-border payments by bypassing the legacy correspondent banking system.

Digital central bank money is moving ever closer. Even so, the monetary authorities of Switzerland, France, and Singapore reiterate the project is «purely experimental.»

KARACHI: The State Bank of Pakistan (SBP) is all set to launch the person-to-merchant (P2M) online payment system on...