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Rwanda weighing pseudo-anonymous CBDC to underpin cashless economy ➡️ Read All : https://lnkd.in/efqDiuYc Rwanda’s central bank has published a research paper laying out the benefits, risks, and design recommendations for a digital franc. The research paper summarized the... [...] #RwandaCBDC #DigitalFranc #Fintech #CentralBankInnovation #CrossBorderPayments #Crypto #Regulation #NBTC

Bank of Namibia aims to collaborate with Ghana on CBDC and FinTech exploration 📍 The Bank of Namibia is interested in collaborating with Ghana on digital currency and FinTech endeavors. They are looking to deepen cooperation, especially regarding financial inclusion, digital advancements, and the regulation of financial technology, with the Bank of Ghana. 📍 This collaboration extends from a prior Memorandum of Understanding signed in 2022 between the two central banks. Namibia is particularly keen on understanding and potentially adopting Ghana's #eCedi, which is Ghana's ongoing digital currency #pilot program. 📍 Namibia aims to draw from Ghana's experience with the eCedi to pursue similar initiatives and enhance financial inclusion within its territory. #Ghana #Namibia #collaboration #fintech #digitalcurrency #ecedi

Russia to start using CBDC for international payments in 2025 ➡️ Read All : https://lnkd.in/e5f36MxQ Central bank digital currency (CBDC) payments in international trade will be the norm within the next five years, says Anatoly Aksakov, the influential Russian legislator... [...] #DigitalCurrency #CBDC #GlobalTrade #DigitalRuble #RussiaChinaPartnership #Crypto #Regulation #NBTC

🇪🇺 The European Central Bank (ECB) published its first progress report on the digital #euro preparation phase, launched on 1 November 2023, to lay the foundations for the potential issuance of a #DigitalEuro. Key highlights: 📌 #ECB designing high privacy standards to make #online and #offline digital payments as close as possible to cash #transactions. 📌 ECB started work on designing a methodology for calibrating #digital euro-holding limits. 📌 ECB continues to provide technical input to legislative discussions with #European co-legislators. The report outlines the progress made on key digital euro design aspects and the envisaged next steps for the project. Ready to learn more? Get additional information below👇 #EU #Europe #CryptoPolicy #DigitalAsset #crypto #FinancialRegulation #stablecoin #CentralBank #EuropeanParliament

Despite the pressures of Israel's multi-front war, innovation is still happening - even within the system. And that system is learning from China's troubles; The Bank of Israel is holding a Digital Shekel Challenge, marking the next step in creating a digital currency for Israel. However, having a digital currency doesn’t guarantee that people will use it, as China has discovered. The Bank of Israel seems to have learned from China’s troubles. After Beijing conducted several pilots where they gave away free digital money, there has been little uptake. Even the digital currency pilot during the 2022 Winter Olympics was underwhelming. Israel has been paying attention and realized that a Central Bank Digital Currency (CBDC) must meet the unique needs of its people. To address this, Israel’s central bank is holding the Digital Shekel Challenge, where 14 companies - ranging from startups to well-established firms - are examining how a #CBDC would impact Israeli society as a whole. Israel has learned from China’s experience - it’s better to ensure the currency will serve the people BEFORE rolling it out.

RABAT, Nov 26 (Reuters) - "A draft law on cryptocurrencies is undergoing the process of adoption in Morocco, the governor of its central bank, Abdellatif Jouahri, said on Tuesday. Cryptocurrencies have been banned in Morocco since 2017, but the public continues to use them underground, circumventing restrictions. The central bank, known as Bank Al Maghrib, "has prepared a draft law regulating crypto assets, which is currently in the adoption process," Jouahri told an international conference in Rabat. Bank Al Maghrib was also exploring a central bank digital currency (CBDC), he said. "Regarding central bank digital currencies, and like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion," he said. A CBDC is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralised." Reuters Maroc

Nigeria's #Central #Bank #Digital #Currencies (#CBDC) transcends mere #digital #currency, it's a cornerstone of Nigeria's #economic evolution having taken the 1st step in #Africa. #Beyond headlines we've seen in the recent past, it integrates innovative features for financial empowerment, leveraging robust infrastructure. It redefines digital transactions, enhancing #security, efficiency, and inclusion, poised to catalyze sustainable growth and propel Nigeria into the next #digital #future." I shares my understanding on a very different perspective about #Nigeria #CBDC with #Digital #Pounds #Foundation below

A recent report suggests that Morocco’s central bank is laying the groundwork to legalize cryptocurrencies. If true, this move could position the country as a leader in North Africa’s crypto adoption journey. Why it matters: ❇ Morocco, previously cautious about crypto, may now embrace it with regulatory clarity. ❇ This could open the door to innovation and foreign investment in the region. ❇ Signals a growing global acceptance of digital assets in diverse economies. #CryptoAdoption #Morocco #DigitalAssets #CryptoInnovation

CBDCs in Middle East and Central Asia: Majority of countries in the Middle East and Central Asia are exploring Central Bank Digital Currencies or #CBDCs to enhance financial inclusion and cross border payment efficiency. Although this sounds promising, its also important to understand that CBDC adoption must be tailored to each country’s needs, from #Pakistan to #Morocco. Currently 19 countries are in the research phase, with #UAE, #Bahrain, #Georgia, #SaudiArabia advancing to the Proof of Concept stage. #Kazakhstan is leading with two pilot programs for the digital tenge. CBDCs also have the potential to enhance #financialinclusion by lowering the cost of financial services, fostering competition in the #payments market, and encouraging technological advancements. However the benefits may be marginal without addressing barriers such as low digital literacy, lack of identification, and distrust of financial institutions. Risks include potential competition with bank deposits, which could impact financial stability. Policymakers must navigate these challenges by ensuring a healthy banking system, robust legal frameworks, and strong regulatory capacities. Careful design choices, such as offline functionality for CBDCs, will also need to be considered to ensure they are a success. The International Monetary Fund has an insightful working paper which dives into CBDCs in this region in more detail. The image is also courtesy #IMF. #fintech #blockchain #DLT #cbdc #mena #middleeast #gcc #centralasia #stablecoins #techtrends2024 #centralbanks #emergingtech #fintechnews #innovation Fintech Tuesdays

The #press would have you believe that #Nigeria's #eNaira #CBDC project has failed, but we've spoken with Adedeji Owonibi, Founder and CEO at Convexity, who shares a very different perspective. In our latest episode of the #Poundcast, Adedeji shares his experience of building some of the use cases on the Nigeria Central Bank CBDC infrastructure, as well as some of the positive outcomes from the project. Plus, he gives an insight into the work of the Africa Stablecoin Consortium. Watch the full episode on #YouTube here 👉 https://buff.ly/3viubLw ... #Africa #DigitalCurrencies #Fintech