CBDCs are shaking up the financial world, providing digital versions of traditional currency backed by central banks.
Central banks are accelerating efforts to develop CBDCs to keep pace with fintech advancements and regulatory demands. Bank of England's Governor Andrew Bailey is involved in these explorations.
The ECB is advocating for a digital euro to maintain financial sovereignty amid global CBDC competition, with Europe under pressure to act quickly.
Sumit Gupta emphasizes the need for balanced regulation to ensure coexistence between CBDCs and private cryptocurrencies in India.
The Hong Kong Monetary Authority has launched a sandbox to test tokenized assets in real-world scenarios, focusing on interbank settlement with tokenized currency and central bank digital currencies.
US Senator Cynthia Lummis highlights Bitcoin reserves' potential to strengthen the US dollar's global dominance and criticizes Central Bank Digital Currencies (CBDCs).
An IMF survey highlights Saudi Arabia's progress in Central Bank Digital Currency (CBDC) research, discussing the potential benefits and challenges as examined by 19 central banks in the Middle East and Central Asia.
Analysts discuss XRP's potential, focusing on its attributes and how it might integrate with central bank digital currencies (CBDCs) to connect various financial systems.
CBDCs are coming to various countries soon.