While the US debate over the CBDCs and their effects, the rest of the world are getting closer to releasing their own CBDCs.

The post Here’s the first multi-CBDC settlement project and participating countries appeared first on CryptoSlate.

The Bank for International Settlements worked with central banks in Australia, Malaysia, Singapore and South Africa to create CBDC settlement prototypes.

The post BIS partners with four central banks to develop multi-CBDC platform prototypes appeared first on The Block.

Here is our pick of the 3 most important Stablecoin news stories during the week. No currency is an island! Unlike in Roman times, without interchangeability or exchange a currency looses a lot of its value or utility. The BIS pushed on this theme with Project Dunbar that this week supposedly proved that financial institutions could […]

The post Stablecoin News for the week ending Wednesday 23rd March. appeared first on Daily Fintech.

The Bank for International Settlements (BIS) Innovation Hub, the Reserve Bank of Australia, Bank Negara Malaysia, the Monetary Authority of Singapore, and the South African Reserve Bank has developed two

The post BIS Develops Multi-CBDC Platform for International Settlements With Central Banks appeared first on Fintech Singapore.

Malaysia’s central bank calls for an open data ecosystem and the digital infrastructure to make this possible.

The post Bank Negara dreams big for digitalizing Malaysia appeared first on Digital Finance.

Digitalization is affecting everything and is accelerated by the pandemic. One area unable to escape this accelerated trend is money. Money inventions have challenged and transformed the structure of the financial system throughout history. Time and again, innovations have sparked disputes about the dangers they represent and the benefits they provide, as well as the […]

The post The digital euro is on the way appeared first on Daily Fintech.

The Central Bank of Malaysia, also known as the Bank Negara Malaysia (BNM) is exploring the possibility of launching its own central bank digital currency (CBDC). At the moment, the project is still in a “research mode” as the Asian nation is only looking towards “assessing the value proposition” of digital currencies. In an email written to Bloomberg, BNM stated: “BNM is actively assessing the value proposition of CBDC to Malaysia.” adding, “While a decision has not been made to issue CBDC, we have focused our research on CBDC via proof-of-concept and experimentation to enhance our technical and policy capabilities, should the need to issue CBDC arise in the future.” Earlier last year, Malaysia allied with the Bank for International Settlements, South Africa, Australia, and Singapore to develop a proof-of-concept CBDC pilot. Dubbed Project Dunbar, the pilot utilized the Corda and Quorum blockchain platforms from r3 and ConsenSys, to demonstrate the capabilities of blockchain-based cross-border remittances. The goal behind this includes developing a multi-CBDC platform to bring together central banks and commercial banks from over the world for cross-border payments solutions. Several countries have been testing the use of central bank-issued digital currencies. For instance, Thailand’s central bank has planned to test its retail CBDC for the public this year. Similarly, Cambodia has already rolled out its tokenized version of Cambodian riel, a blockchain-based CBDC called Project Bakong, and is recognized as one of the world’s first CBDCs. The Indonesian and Philippine central banks have both been racing towards developing their own digital currency. Indonesia, for instance, said that it’s developing a CBDC to counter the increased cryptocurrency usage in the country. Meanwhile, China has been testing and developing its e-CNY digital currency and wants to officially introduce it during the 2022 Winter Olympics.

The post Malaysia’s Central Bank Exploring the Potential Launch of a CBDC appeared first on Cryptoknowmics-Crypto News and Media Platform.