South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships and global initiatives like Project Agora highlight the broader impact of…
Ripple partner SBI Holdings has confirmed its participation in Project Agora, a Bank for International Settlements (BIS) initiative exploring the integration of tokenized commercial bank deposits. Project Agora, which has attracted interest from over 40 financial institutions, including Visa and Mastercard, will boost Ripple’s global influence. Ripple partner and Japanese financial giant SBI Holdings recently…
New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and…
Over 40 leading private banking institutions have joined Project Agora, a Bank for International Settlements (BIS) initiative to integrate smart contracts to change the current payment flow standard. The objective is to design a system combining public and private money to enhance cross-border settlement processes. Project Agora Gains Support From Private Banking Giants Project Agora,…