After a meeting of European Union finance ministers, Eurogroup President Paschal Donohoe said there’s been progress on legislation...
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.
70 organizations join ECB’s digital euro innovation platform
The European Central Bank (ECB) announced the launch of its innovation platform for the digital euro central bank digital currency...
World Federation of Exchanges explores CBDC for tokenization
The World Federation of Exchanges (WFE) has published a paper exploring the potential impact of central bank digital currency (CBDC) on...