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The central banks of Saudi Arabia and the United Arab Emirates (UAE) have concluded a digital currency (CBDC) pilot, finding that distributed ledger technology can improve cross-border transactions and meet the demands of financial privacy in a purely digital context.  In a 93-page overview of the “Aber” project, the two central banks outlined the lessons...
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The Central Bank of the Bahamas has officially launched its national digital currency. The first of its kind in the world to have been fully deployed, the sand dollar is a digital version of the Bahamian dollar. Issued by the country’s monetary authority as a central bank digital currency (CBDC), the announcement of the launch...
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International financial authorities and 20 of the world’s largest economies are establishing official standards for regulating and issuing sovereign digital currencies. The Group of Twenty (G20) — an organization of finance ministers and central bank governors representing the European Union and 19 countries across every continent — said in a report today that it is...
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The Bahamas confirmed it will cross the central bank digital currency (CBDC) finish line next month. “The intended outcome of Project Sand Dollar is that all residents in The Bahamas would have use of a central bank digital currency, on a modernized technology platform, with an experience and convenience – legally and otherwise – that resembles...
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