The Federal Reserve is planning a payment innovation conference on 21 October, with DeFi, stablecoins and tokenization taking center...
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.
mBridge cross border CBDC project enters next phase in China
Over the past couple of months there have been an increasing number of announcements about Chinese banks executing cross border payments...
Stablecoins, crypto cause a third of central banks to accelerate CBDC work – BIS
In the past few months the European Central Bank has frequently cited the expansive US approach to stablecoins as triggering urgency for...