The Central Bank of Malaysia, also known as the Bank Negara Malaysia (BNM) is exploring the possibility of launching its own central bank digital currency (CBDC). At the moment, the project is still in a “research mode” as the Asian nation is only looking towards “assessing the value proposition” of digital currencies. In an email written to Bloomberg, BNM stated: “BNM is actively assessing the value proposition of CBDC to Malaysia.” adding, “While a decision has not been made to issue CBDC, we have focused our research on CBDC via proof-of-concept and experimentation to enhance our technical and policy capabilities, should the need to issue CBDC arise in the future.” Earlier last year, Malaysia allied with the Bank for International Settlements, South Africa, Australia, and Singapore to develop a proof-of-concept CBDC pilot. Dubbed Project Dunbar, the pilot utilized the Corda and Quorum blockchain platforms from r3 and ConsenSys, to demonstrate the capabilities of blockchain-based cross-border remittances. The goal behind this includes developing a multi-CBDC platform to bring together central banks and commercial banks from over the world for cross-border payments solutions. Several countries have been testing the use of central bank-issued digital currencies. For instance, Thailand’s central bank has planned to test its retail CBDC for the public this year. Similarly, Cambodia has already rolled out its tokenized version of Cambodian riel, a blockchain-based CBDC called Project Bakong, and is recognized as one of the world’s first CBDCs. The Indonesian and Philippine central banks have both been racing towards developing their own digital currency. Indonesia, for instance, said that it’s developing a CBDC to counter the increased cryptocurrency usage in the country. Meanwhile, China has been testing and developing its e-CNY digital currency and wants to officially introduce it during the 2022 Winter Olympics.

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TOKYO, SINGAPORE & NEW YORK–(BUSINESS WIRE)–#MonetaGo—MonetaGo is pleased to announce the launch of operations in Japan beginning effective immediately. The Japanese business is led by Mr. Munetoshi Yamada, Managing Director Japan, based in Tokyo. Yamada-san brings with him a wealth of experience in the thriving Japanese financial sector having proven himself a senior leader at […]

The post MonetaGo Commences Japan Operations led by Munetoshi Yamada appeared first on Fintech News.

Web3 Labs is part of the EEA community of organizations working to advance Ethereum and drive industry adoption. In the Q&A below, the EEA interviewed Founder and CEO Conor Svensson about how Web3 Labs is contributing to the ecosystem to help Ethereum reach its full potential. Please introduce your company and yourself briefly. I'm [...]

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A look at the companies demoing at FinovateFall on September 13-15, 2021. Register today and save your spot. R3 Sandbox for Digital Currencies...

When your run game fails you, it’s time to air it out. Whether you’re playing Madden 22‘s Ultimate Team or constructing a dynasty...

The post As Banks Begin to Embrace Blockchain, Cross-Chain Interoperability Will be Vital to Mass Adoption appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Back in September 2017, JPMorgan Chase CEO Jamie Dimon ridiculed Bitcoin, calling it a fraud “worse than tulip bulbs.” For the uninitiated, he was referring to the 17th century Dutch tulip market bubble, one of the craziest bubbles in recorded history. Fast forward a few years, JPMorgan and other banking giants have been dipping their …

70% of fintechs are using AI today, and the technology is predicted to dominate the market by 202590% of fintechs use APIs and...

Swiss-based fintech incubator and accelerator F10 announced that ten startups from the UK, Israel, Nepal, Malaysia, India and Singapore have graduated successfully from...

The MAS has unveiled a Global CBDC Challenge calling on companies around the world to provide solutions for retail CBDCs innovations.

The competition is designed to find innovative retail CBDC solutions that increase efficiencies and…

The post MAS, IMF and World Bank launch global retail CBDC challenge appeared first on Coin Journal.

The Monetary Authority of Singapore is seeking new retail CBDC solutions with a new global challenge offering cash prizes and expert digital currency mentorship.

MAS has partnered with IMF and other organizations for the launch of a global challenge for retail CBDC solutions.