At least eight major banks, including Hong Kong-based China CITIC Bank, have now introduced or are in the process of introducing digital wallets that support China’s central bank digital currency (CBDC), according to local media reports... More
Central bank digital currency (CBDC)
BIS to build proof of concept platform for cross-border CBDC payments
The Bank of International Settlements (BIS) is to develop a proof of concept platform to explore the use of central bank digital currencies (CBDCs) for cross-border payments and has identified CBDCs as one of six “thematic priorities” for the year... More
PBOC to launch third digital yuan trial in Shenzhen
The People’s Bank of China (PBOC) is to follow its pilots of NFC-based contactless digital currency payments with the distribution of a further 20m digital yuan (US$3.1m) in a third ‘red envelope’ lottery to be held in the city of Shenzhen... More
EU to debut digital euro project this year?
The European Commission and the European Central Bank (ECB) are to consider launching a digital euro project towards the middle of 2021. “Such a project would answer key design and technical questions,” the two institutions say in a joint statement. More
China unveils plan to build a global payment network based on central bank digital currencies
China’s Blockchain-based Service Network (BSN) has revealed plans to develop a universal digital payments network (UDPN) based on standardised procedures for international transfers and payments with and between central bank digital currencies (CBDCs)... More
Agricultural Bank of China pilots central bank digital currency ATMs
The Agricultural Bank of China has launched pilot ATMs that enable customers in Shenzhen to deposit and withdraw money in the form of digital yuan, the country’s central bank digital currency (CBDC)... More
PBOC pilots contactless cards and wearables that let consumers make payments with China’s digital currency
The People’s Bank of China (PBOC) has expanded its central bank digital currency (CBDC) pilot to include a contactless ‘hard wallet’ and NFC wearables that enable consumers to make in-store and transit fare payments with their digital yuan... More
Visa proposes CBDC protocol that lets consumers exchange digital cash via Bluetooth or NFC
Visa has published a research paper exploring an offline payment system (OPS) protocol for central bank digital currencies (CBDC) that would enable users to make digital payments to other users even when both sender and recipient are temporarily offline or unable to connect to a bank, payment network or other intermediary... More
PBOC to trial online and offline payment functions in second digital yuan red envelope giveaway
The People’s Bank of China (PBOC) is to enable participants in the next phase of its central bank digital currency (CBDC) pilot to test for the first time the use of digital yuan for making both online purchases and touch-based in-store offline payments... More
Economists propose single global digital currency
A single global retail central bank digital currency (CBDC) and a single global 24/7 payment system could be an “optimum solution” as the basis for a new payment model “enhancing market discipline and fairness to all stakeholders”, according to a new paper... More
Lebanon to issue digital currency in 2021
Banque du Liban, the central bank of Lebanon, is preparing to launch a central bank digital currency (CBDC) next year, the bank’s governor Riad Salameh has told a meeting of the Lebanese Depositors Association... More
China to maintain central database of all digital currency transactions
The People’s Bank of China (PBOC) will keep a database of all transactions made using the digital yuan, China’s central bank digital currency (CBDC), according to China Daily... More
European Central Bank launches public consultation on digital euro
The European Central Bank (ECB) has launched an online survey that enables consumers and industry experts to express their priorities, preferences and concerns about the issuance of a digital euro as a central bank digital currency (CBDC) and means of payment in the euro area... More
Huawei integrates digital yuan hardware wallets into Mate 40 NFC smartphone
Owners of Huawei’s Mate 40 in China will be able to make transactions in digital yuan from a central bank digital currency (CBDC) hardware wallet built into the soon-to-be-released smartphone... More
PBOC reports first counterfeit digital currency wallets
The People’s Bank of China (PBOC) has “found counterfeit digital yuan wallets on the market,” the head of the bank’s digital currency research institute Mu Changchun has revealed... More
Russia launches public consultation on digital ruble
The Central Bank of Russia (CBR) has begun a public consultation on the launch of a central bank digital currency (CBDC) that would allow citizens to use “mobile devices and other media” to make payments using a digital ruble... More
Central bank launches digital currency in the Bahamas
Citizens of the Bahamas can now make payments and transfers from a digital wallet using the country’s Sand Dollar central bank digital currency (CBDC)... More
Shenzhen residents spend nearly 9m digital yuan during CBDC pilot
China’s ‘red envelope’ lottery giveaway of digital yuan to 50,000 residents of Shenzhen resulted in 62,788 transactions with a total value of 8.764m yuan (US$1.32m) during the week-long central bank digital currency (CBDC) test in the city... More
Central bank digital currency lottery attracts 2m Shenzhen residents
Nearly two million Shenzhen residents, representing 15% of the city’s population, signed up for a chance to win 200 digital yuan (US$29.65) in the ‘red envelope’ lottery held as part of China’s central bank digital currency (CBDC) pilot... More
Bank of Japan to test central bank digital currency
The Bank of Japan is to begin the first phase of proof-of-concept testing of a central bank digital currency (CBDC) in early 2021, according to a statement published by the bank... More