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Bahamas, Cambodia, China Lead Global CBDC Race, UK Launches Taskforce

Bahamas, Cambodia, China Lead Global CBDC Race, UK Launches Taskforce Source: iStock/lcva2 The Bahamas, Cambodia, and China are the three countries with the most mature central bank digital currency (CBDC) projects, as only 23% of the world’s retail projects have reached the implementation stage, and close to 70% of wholesale projects are in pilot program phase, according to international consultancy PwC. Meanwhile, today, the Bank of England (BoE) and Her Majesty’s Treasury announced the joint creation of a new Taskforce to coordinate work on the potential UK CBDC. The Bahamas and Cambodia secured top positions on the podium as their respective CBDC projects are live, while China is currently testing its digital yuan project. More than 88% of the world’s CBDC projects that are currently in the pilot or production phase use blockchain technology, according to data from the report, which was obtained by Bloomberg.

CBDCs: People s Bank of China and the Hong Kong Monetary Authority Testing Digital Yuan

CBDCs: People’s Bank of China and the Hong Kong Monetary Authority Testing Digital Yuan The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have begun testing its central bank digital currency (CBDC) or digital yuan for cross-border transfers, according to a report in SCMP. The report quotes Wang Xin, Head of Research at the PBoC, who apparently gave a media briefing on the digital yuan. China has been testing a digital iteration of its currency for some time now. Reports have filtered in that it is being tested in mainland China – this most recent report focuses on cross-border transactions of the digital yuan.

China s digital currency likely to be highlighted at two sessions

China s digital currency likely to be highlighted at two sessions
globaltimes.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globaltimes.cn Daily Mail and Mail on Sunday newspapers.

China policy and markets round-up: Beijing hones in on green finance, southbound Bond Connect to launch before year-end, BOC, ICBC name new presidents

China policy and markets round-up: Beijing hones in on green finance, southbound Bond Connect to launch before year-end, BOC, ICBC name new presidents
globalcapital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalcapital.com Daily Mail and Mail on Sunday newspapers.

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