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James Hurren explores what early CBDC deployments across Asia, the Caribbean, and Europe reveal about usage, adoption, and the future of cross-border digital money. Central bank digital currencies (CBDCs) have rapidly evolved from theoretical concepts into live pilots and national deployments.
It highlights major trade-offs in security, privacy, and policy that must be addressed before offline CBDC payments can scale. If implemented, offline CBDC capability could introduce new consumer behaviours, shift merchant requirements, and alter the economics of digital payment acceptance. Why is it important? What’s next?
Treasury Department is researchingusecases for a central bank digital currency (CBDC), as well as drafting regulatory proposals for private stablecoins, U.K. Meanwhile, Lebanon Governor Riad Salameh announced that the country will be introducing a CBDC next year, to “restore confidence,” reported Bloomberg.
While 134 countries and currency unions, representing 98 per cent of global GDP, are currently exploring a central bank digital currency (CBDC), the Bank of Canada has revealed it is officially putting efforts to introduce a digital version of the Canadian dollar on pause. Could a CBDC still be in Canada’s future?
A new report by Twimbit, a Singapore-based research and advisory firm, highlights the state of open finance in Southeast Asia, exploring the different factors such as regional integration, technological innovation, evolving business models, and API monetization that are fueling the growth of the sector.
And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the usecases to get there. As many as 80 percent of the 66 central banks polled by the Bank of International Settlements said they were at some stage of CBDC development. Digital dollars are a maybe – but if so, not for a while.
In notes on its most recent (August) meeting of the bank’s Payments System Board, the members said that “at present there is not a strong public-policy case for issuance in Australia, given that the electronic payments system in Australia compares very favorably with those in many other countries and access to cash remains good.”.
Airlines already have mobile boarding passes generated at check-in to expedite boarding, and some work has been done within the airline mobile application; United is a good example usecase, eliminating a traditional ID requirement at check-in including baggage. You can find more insights from our research expert, Oliver Jackson, here.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | Cross Border Ecommerce Research | Company Database | Events News Nauru establishes a crypto asset regulator Monday 23 June 2025 15:45 CET | News The Government of Nauru has enacted legislation creating a regulatory body to oversee activities involving digital assets.
In other news, the Reserve Bank of Australia (RBA) is exploring the potential of a central bank digital currency (CBDC), in partnership with the National Australia Bank , Commonwealth Bank , Perpetual Limited and ConsenSys Software , the bank announced in a press release. RBA expects to finish the project at the end of this year.
However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different usecases are emerging and being rapidly adopted. The potential usecases and benefits for users are hazy at best. This may mean that, initially, acceptance of the retail CBDC is gradual.
Through the new project, Hong Kong Monetary Authority will explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money through a wholesale CBDC. We welcome global talents and industry players to come to Hong Kong and be part of this very exciting tokenisation journey.”
As part of those efforts, the lab is being used to explore “whether there is a role for a digital Australian dollar — that is, an Australian [central bank digital currency (CBDC)] — in the context of the bank’s responsibilities for issuing the currency and overseeing the payments system.”. The language is interesting — and noteworthy.
Initiatives are also exploring Instant Payment usecases based on nexo frameworks. Work is actively underway to integrate Instant Payments usecases. It supports: Interoperability across multiple payment types and acceptance environments — including in-store, e-commerce, SoftPOS, cards, mobile, and QR codes.
The experiments aim to examine a digital euro’s technical feasibility as well as its “programmability” as a coin separate from a central bank digital currency, (CBDC) according to CoinDesk. NTT Data, Project Spunta’s developer, and payment system provider SIA, are participating in the research experiment, Ledger Insights reported.
According to OpenPayd officials, the addition of stablecoin capabilities is intended to support business usecases such as treasury management, global payouts, and digital asset services.
The situation is somewhat different for the central bank digital currencies (subsequently referred to as CBDCs) in Sweden, Denmark, and Switzerland. In these countries, four out of ten respondents are unfamiliar with CBDCs. Respondents primarily view the digital euro and the CBDC as a complement to existing payment methods.
Interestingly, Singapore’s consumer cryptocurrency ownership is high among those surveyed in new findings, and staking has emerged as the most popular usecase, preceding others such as trading cryptocurrencies and holding cryptocurrencies for the long term.
The session will shed light on the regulator’s drive towards innovation, transparency, and collaboration, highlighting initiatives like mBridge for cross-border CBDC payments and the successful real-time payments between PromptPay in Thailand and PayNow in Singapore. 7 CBDCs – The New Frontier of Money?
It is also “conducting research and experimentation related to distributed ledger technologies and their potential usecase for digital currencies, including the potential for a CBDC (central bank digital currency),” Brainard noted.
As seen in a report by Tiger Research , this sort of transition showcase the regions strategic push to reduce reliance on the U.S. Finally, stablecoins face competition from CBDCs, as many governments prioritise CBDC development over private stablecoins. dollar in cross-border trade, investment, and domestic financial systems.
The session will shed light on the regulator’s drive towards innovation, transparency, and collaboration, highlighting initiatives like mBridge for cross-border CBDC payments and the successful real-time payments between PromptPay in Thailand and PayNow in Singapore. 7 CBDCs – The New Frontier of Money?
How quantum computing could transform banking; it can process data 10 million times faster than supercomputers what are the usecases for banks? Could quantum computing break the encryption keys used in current security protocols and leave sensitive data vulnerable to attack? Disruption in the direct to consumer wealth market.
How can we look to this rapidly growing business for new usecases for instant payments? In fact, 83% report they already use digital wallets or fintech mobile apps and 62% plan to use faster payments more. What will this look like in the coming years?
As part of those efforts, the lab is being used to explore “whether there is a role for a digital Australian dollar — that is, an Australian [central bank digital currency (CBDC)] — in the context of the bank’s responsibilities for issuing the currency and overseeing the payments system.”. The language is interesting — and noteworthy.
Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.
Several key dynamics characterize the digital currency and payments market: Rapid Innovation: Continuous advancements in blockchain technology and related infrastructure drive the development of new applications and usecases, fostering innovation across the sector.
Digital Currency and Payments in Canada In 2024, the Canadian digital currency market has experienced a notable surge in mainstream adoption, driven by increased media coverage, educational initiatives, and expanding usecases such as retail payments and cross-border transfers.
It is only a matter of time before consumer e-commerce applications built around CBDCs become available to the public. Furthermore, many APAC governments and central banks are actively exploring CBDC and blockchain-based digital identity frameworks.
While, Mambu, the software as a service (SaaS) cloud banking platform, unveiled new research that reveals over a quarter (26 per cent) of Gen Z Muslims solely use Islamic banking, though 85 per cent of them are interested in banking with a financial institution that offers Shariah-compliant products, an increase from 2021.
Mobile order-ahead services are being used for more functions than ever, and beyond simply ordering and paying for food. Central Banks Team On Digital Currency Standards And UseCases. Fun, Cool and Otherwise Interesting. And now comes along another bit of news that further drives home that point. But as reported Tuesday (Jan.
Litt said: “In terms of usecases, I would say that there was tremendous and still is a lot of pressure for the executive teams to deliver Gen AI applications and solutions. The partnership provides Papara’s 20 million users with the ability to invest real-time in US stocks on the Nasdaq and NYSE starting in October.
” Local offerings are a key to success Ruhi Dang, head of product in EMEA at Stripe Though it requires more research and can take longer to implement, Ruhi Dang , head of product in EMEA at Stripe , the payments platform, explains why localisation services are imperative to successful cross-border payments.
While the region’s approach remains fragmented, progress is unmistakable, according to a new report by global crypto research firm Four Pillars, released in April 2025. Hence, no Chinese tech company has launched RMB-pegged crypto stablecoins for public use. million (US$2.8
The potential for new ideas is large, as banks and financial institutions can test various methods, including retail and digital assets, across person-to-person, person-to-merchant, and business-to-business usecases.
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