Last week we reported that Russia had progressed legislation to mandate the launch date for the digital ruble as 1 July 2025...
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.
DLT fund platform IZNES simulates wCBDC usage with Banque de France
IZNES, the European UCITS fund platform that uses blockchain for record keeping, shared details about experiments during the recent...
Bundesbank: digital euro targets payment sovereignty threats from US, China
In a recent interview, Bundesbank board member Burkhard Balz spoke about his view on the need for a digital euro. In the wake of...