Indian banks disbursed some employee benefits through the digital rupee in December, helping the Reserve Bank of India meet its target of one million daily transactions by end-2023, three sources directly familiar with the development said. The central bank digital currency (CBDC), called the e-rupee, has been devised as a digital alternative to physical cash … Read more
The US, in recent years, has emerged as one of the most crypto-friendly nations in the world with more investors and merchants experimenting with digital assets there. At a time when the nation is conducting research and studies around the need and use-cases of the blockchain-based digital dollar CBDC, former President Donald Trump has ignited … Read more
The Reserve Bank of India (RBI) is looking to adopt offline strategies to ensure that the eRupee CBDC enters the financial system of rural and remote parts of India. RBI governor Shaktikanta Das reportedly stated that the central bank plans to experiment with offline solutions to drive the adoption of CBDC in those parts of … Read more
The CBDC concept in Japan, has not quite spread out to the residents there, new findings have shown. Less than 20 percent of Japan’s population is familiar with the term CBDC, claimed Kazuo Ueda, the governor of the Bank of Japan (BoJ), during a recent speech. He also noted that another 20 percent Japanese residents, … Read more
Several countries, including India, are expanding central bank digital currency (CBDC) trials, hoping to integrate then with their existing financial systems. The Reserve Bank of India has proposed the expansion of support for the digital rupee CBDC within the retail ecosystem beyond banks. In the coming days, the RBI is expected to start circulating the … Read more
Brazil has reportedly halted the pilot testing of Drex, its central bank digital currency (CBDC), The pilot of the country’s first CBDC will take place by 2025, as the Central Bank of Brazil has found blockchain privacy solutions to be insufficient, which could cause financial inconvenience to Brazilian nationals, according to a report that states … Read more
The Reserve Bank of Indi’s (RBI) eRupee or central bank digital currency (CBDC) is currently in an advanced trial phase with multiple national banks assisting the RBI in rolling out the digital currency. The usage of eRupee in the retail sector reportedly increased over the past year, according to data from the RBI. On the … Read more
Central Bank Digital Currencies, or CBDCs, are picking up the pace in several nations around the world, and Iran is one of them. In the coming days, the country will gradually be deploying its ‘digital rial’ virtual currency into a public pilot phase. The Central Bank of Iran (CBI) is spearheading the trial phase for … Read more
The Reserve Bank of India (RBI) released its latest report detailing the development and roadmap ahead for the digital finance industry. Among several innovations that the RBI praised in this report, the mention of the eRupee central bank digital currency (CBDC) did not go unnoticed. Built like crypto but regulated by the RBI, India’s eRupee … Read more
Dubai-based ByBit crypto exchange has announced the integration of the eRupee CBDC with its peer-to-peer (P2P) transaction service. In an official statement, the exchange said it has received multiple requests from Indian merchants urging support for eRupee transactions. Since the eRupee is India’s RBI-issued digital currency, the merchants dealing in INR believe that processing digital … Read more