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Tag: Central Banks

New Zealand dollar extends gains

The New Zealand dollar has posted gains for a third straight day. Early in the North American session, NZD/USD is trading at 0.6886, up 0.56% on the day. The currency is on a tear, rising 1.62% so far this week. Strong risk sentiment boosts New Zealand dollar  There was plenty of anticipation ahead of the […]

Visa Teams Up With ConsenSys to Connect CBDC Networks With Existing Payment Rails

CBDCs are a hot top topic among regulators worldwide. As such, Visa and ConsenSys will let their consumers use CBDC-linked Visa cards or digital wallets.

Economic Affairs Committee Unsure UK Needs Retail CBDC


The United Kingdom’s Economic Affairs Committee has shared its views on the proposed plans by the country to launch a Central Bank Digital Currency (CBDC) or digital Pound. (Read More)

Gold Q1 2022 Fundamental Forecast: Gold Fundamental Outlook Proves Mixed

It took US inflation rates surging to their highest level since March 1982 and the emergence of a new strain of COVID-19 for markets to…

Visa Partners With ConsenSys to Develop CBDC Technology

Visa Partners With ConsenSys to Develop CBDC Technology

Payments giant Visa has teamed up with the blockchain software company ConsenSys to build an on-ramp for central bank digital currencies (CBDCs). The pilot program will begin after discussions with roughly 30 central banks about its development and potential. According to Bloomberg, Visa will launch a ‘CBDC sandbox’ this spring, where central banks can experiment with technology after minting on Consensys’ Quorum protocol. The latest tech will allow the enabling of plugging into existing payments modules. This means traditional finance companies will be able to integrate the infrastructure to issue things like CBDC-linked Visa cards or digital wallets anywhere where Visa is accepted globally. Commenting on the development, Catherine Gu, Visa’s Head of CBDC, said: “CBDC could expand access to financial services and make government disbursements more efficient, targeted, and secure that’s an attractive proposition for policy makers. With CBDC, a central authority could send fast payments to a targeted set of users and program specific spending parameters.” Mastercard launched a similar CBDC testing platform in 2020. Currently, Visa offers payment cards linked to USD Coin, stablecoin issued by a consortium that includes Circle Internet Financial Inc. Earlier in December 2021, Visa helped in the formation of a global crypto advisory practice to help financial institutions develop their cryptocurrency businesses as demand for crypto products continues to grow. Meanwhile, ConsenSys is already one step ahead in helping develop CBDCs in Australia, France, Hong Kong, and Thailand.

The post Visa Partners With ConsenSys to Develop CBDC Technology appeared first on Cryptoknowmics-Crypto News and Media Platform.

Pakistan’s central bank reportedly wants to ban crypto

Pakistan's finance and law ministries are yet to make a decision on a potential blanket ban on crypto in the country.

British Lawmakers Sense Risks Over Use of Digital Pound


As talks about the release of a digital pound by 2025 are yet to happen, British lawmakers are already doubtful that their use could harm financial stability, raise the cost of credit and erode privacy. (Read More)

Bitcoin ‘Energy Per Transaction’ Is A Misleading Metric

Measuring Bitcoin’s environmental impact with “energy per transaction” is misleading and disingenuous.

House of Lords report says there is ‘no convincing case’ for a CBDC in the UK

The cross-party Lords Economic Affairs Committee has published its ‘Central bank digital currencies: a solution in search of a problem?’ report.

Crypto and TradFi Merging As One, According to the IMF

Research from the International Monetary Fund (IMF) notes that crypto assets have emerged from the fringe to become intertwined with the traditional system, posing new risks and questions. In its report titled “Cryptic Connections: Spillovers between Crypto and Equity Markets,” the IMF says that the widespread adoption of cryptocurrencies could pose financial stability risks given […]

The post Crypto and TradFi Merging As One, According to the IMF appeared first on Coin Bureau.

Inflation hits 7% and is nearing peak, stocks whip around, dollar falls, bitcoin rises

US stocks initially rallied after the latest reading of consumer prices showed the biggest gains since 1982, but was nevertheless, in line with expectations.  Wall Street was worried that a much hotter inflation report could have not only cemented four Fed rate hikes this year, but potentially made the May FOMC meeting a possibility for […]

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