The World Federation of Exchanges (WFE) has published a paper exploring the potential impact of central bank digital currency (CBDC) on...
CBDC
Until recently the central bank digital currency (CBDC) emphasis has been on consumer oriented or retail usage. In the last few months, there's been considerably more talk about wholesale applications. In the past, the primary central bank interest in wholesale CBDC was for cross border payments. One example is the mBridge project from the central banks of China, Hong Kong, Thailand and the UAE.
A key driver of Europe's current wholesale exploration is the potential usage of DLT in capital markets. To a lesser extent, it could also support tokenized deposits. The BIS recently proposed the concept of a Unified Ledger, a network that could support CBDC, tokenized deposits and other digital assets. Europe plans to incorporate this into its wholesale trials.
Examples of wholesale projects to support tokenized bank depoits include Brazil's DREX and Korea's recently announced wholesale initiative.
Bank of England explores challenges of offline CBDC
As part of the Bank of England’s central bank digital currency (CBDC) design phase, it explored an offline CBDC for its digital...
Fake news? China links CBDC payments to 10 ASEAN, 6 Middle eastern countries
There’s a news report circulating that China announced it had linked its digital RMB cross border payment system to ten ASEAN...