Digital Rupee offline transactions: The RBI has announced that its Central Bank Digital Currency (CBDC) can now be programmed and used offline. Soon, users will be able to conduct offline transactions, even in areas with limited internet connectivity. During the recent Monetary Policy Committee review meeting on February 8, the RBI governor Shaktikanta Das said, … Read more
Former President Trump vowed Wednesday night to block the creation of a federal digital currency, calling it a “dangerous threat to freedom.” “Tonight, I am also making another promise to protect Americans from government tyranny,” Trump said at a rally in Portsmouth, N.H. “As your president, I will never allow the creation of a central … Read more
Mumbai: India’s banking regulator is in discussions with its counterparts in the US and Hong Kong, as well as the Society for Worldwide Interbank Financial Telecommunications (Swift), to assess the feasibility of quick and inexpensive digital cross-border settlements that could involve transacting through central bank digital currencies (CBDC), people close to the development told ET. … Read more
India’s banking regulator is in discussions with its counterparts in the US and Hong Kong, and the Society for Worldwide Interbank Financial Telecommunications (Swift), to assess the feasibility of quick and inexpensive digital cross-border settlements that will likely involve transacting through central bank digital currencies (CBDC), sources close to the development told ET. An internal … Read more
South Korea is poised to embark on a groundbreaking digital currency pilot program in late 2024, inviting 100,000 citizens to participate and experience the potential of a central bank digital currency (CBDC). According to a report by South Morning China Post, this initiative marks a significant step towards exploring the viability of CBDCs in real-world … Read more
NEW DELHI: The Reserve Bank of India (RBI) is looking to expand the use of Central Bank Digital Currency (CBDC) in the call money market, while hoping to reach one million daily transactions by the end of 2023, said a source.The source said that the wholesale CBDC is proposed to be expanded as tokens for … Read more
Cost of global payment transactions for individuals and the risks associated with them could come off considerably if the central bank digital currency (CBDC) becomes a reality, said Reserve Bank of India Deputy Governor, T Rabi Sankar. “Why is the average cost of transaction for retail 6%? It is not (because of) technology, technology can … Read more
MUMBAI: RBI governor Shaktikanta Das has flagged concerns over high-cost & slow cross-border payments, and said that central bank digital currencies (CBDCs) can make such payments cheaper, faster and more secure. He added that using local currency for cross-border payments can shield emerging economies from global shocks.“Cross-border payments can be made more efficient through adoption … Read more
Home Business SBI Digital Rupee Now Interoperable With UPI For Convenient Payments, Check Details Here The seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing the acceptance and utilization of digital currencies in everyday transactions. The digital rupee, also called as Central Bank Digital Currency (CBDC), was launched by the … Read more