Peru’s Central Bank To Develop a Digital Currency
Like other economies across the world, the Peruvian central bank, Peru’s Central Bank, seeks to build a central bank digital currency (CBDC). Julio Velarde, the company’s president, announced that the currency would be largely used for payments. Due to the current market instability, Velarde agreed that now was not the best time to debut the […]
Nigeria Is The First African Country To Establish a Central Bank Digital Currency
Nigeria has become the first African country to issue a sovereign digital currency known as eNaira. The central bank had previously delayed the launch by a month, but it appears that everything is now in place for the official launch. The Nigerian Central Bank also stated that their priority was to launch a complete product […]
Bhutan Partnered With Ripple to Pilot Test The Model Of Their CBDC
The Royal Monetary Authority (RMA); Bhutan’s central bank; has teamed with Ripple to begin testing a model of its CBDC (central bank digital currency ) using Ripple’s technology. To cover comparable use scenarios, the test will employ Ripple’s proprietary CBDC private ledger. The proposed CBDC’s pilot test will comprise retail, cross-border, and wholesale payments. Bhutan […]