Page 2 - Digital Currency

CBDC can play important role in cross-border payment, says RBI Guv

Reserve Bank Governor Shaktikanta Das has said that the Central Bank Digital Currency (CBDC), which is being promoted by the central bank, can play an important role in cross-border payments without much difficulty. The Reserve Bank, he said, has undertaken pilot projects with regard to promotion of the CBDC and the results have been "excellent". The CBDC as a pilot was introduced in the wholesale and retail segments and will now be extended to overnight money markets. "The learning has been excellent and more than what it was one year ago. We are even more convinced that CBDC can prove to be the most effective and efficient mode for cross-border payments in particular, other than of course domestic transactions. And this is not something which is very difficult," he said at an interaction at IMF Governor Talks at Marrakesh, Morocco early this month. He emphasised that while paper currency will continue, the CBDC is going to be the future currency of the world. "CBDC is going to be

India's crypto landscape on verge of transformation, says WazirX VP

Rajagopal Menon, vice president at WazirX, discusses the impact of recent G20 agreements on India's evolving crypto industry and predicts a transformative year ahead

Retail CBDC adoption: Long winding road to 1 million transactions

Central Bank Digital Currency (CBDC) is a digital form of currency notes issued by a central bank. RBI broadly defines e-Re as the legal tender issued by a central bank in digital form

RBI, banks plan new feature to popularise digital currency transactions

Retail CBDC transactions are averaging close to 18,000 a day, way short of the RBI's one million-a-day target by 2023 end

India digital rupee transactions hits 18,000 a day, still below target

The central bank last year began pilot programmes to use the e-rupee in retail and wholesale markets as an alternative to cash

IDEMIA, Airtel, Nokia join hands for offline CBDC payment on feature phones

Under this collaboration, IDEMIA's technology will offer an offline layer to ensure instant and secure transactions without the need for online validation

Reserve Bank of India likely to bring in CBDC in call money market

The central bank introduced the wholesale pilot for CBDC transactions for the government bond auctions last year

RBI plans to widen use of wholesale CBDC in call money market: Official

India's CBDC is currently in a pilot phase across the retail and wholesale segments. The central bank has set a target of one million transactions a day by the end of 2023

State Bank of India announces introduction of UPI interoperability on CBDC

The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC). With this move, the bank aims to deliver unprecedented convenience and accessibility to its customers, SBI said in a statement. This cutting-edge feature, accessible through the 'eRupee by SBI' application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions, it said. SBI was among the first few banks to participate in the RBI's retail digital e-rupee project in December 2022. "The seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing the acceptance and utilization of digital currencies in everyday transactions," it said. This integration will be a game changer for the digital currency ecosystem, it said, adding, the move is the outcome of our unwavering commitment to pushing the boundaries of digital innovation to accelerate the transition to a

A step-by-step approach to CBDC

Why would anybody shift from UPI to CBDC? What are its advantages over UPI?

Stan Lee NFT collection sells out almost instantly, rises 500%: Report

The collectibles sold for $15 each, Kartoon Studios' partner Veve said on its website, meaning the drop of 8,294 netted about $120,000 in revenue

The grey zone of digital currency

Sundeep Khanna's book is an up-to-the-minute and competently written chronicle of how India interacts with virtual assets

CBDC QR code to be interoperable with UPI by July-end: RBI T Rabi Sankar

Aims for 1 million CBDC transactions by year-end

CoinDCX partners with KoinX to allow crypto tax tracking on its platform

CoinDCX also said that it anticipates a 'significant' number of users benefiting from KoinX's tax assistance services

Soon, you may be able to use the same QR codes for e-Rupee and UPI payments

The interoperability between e-Re and UPI QRs will be implemented only at the front end

As SEC-Coinbase fight begins, it'll be Grewal vs Grewal in the courthouse

Indian-origin Paul Singh Grewal, an attorney working as chief legal officer at crypto exchange Coinbase which is in the thick of controversy

Targeting 1 million CBDC users by end of this month: RBI deputy guv

T Rabi Sankar added the RBI does not have a date in mind on when to go live with CBDC beyond the present pilot project

Monetary policy review: CBDC QR codes likely to be interoperable with UPI

RBI plans to have 1 mn active customers by June-end

Crypto market cracks 5%, Bitcoin at 3-month low after US SEC sues Binance

In its complaint, the SEC alleged that Binance and Zhao had "free reign" over billions of dollars of crypto assets from the US

Pine Labs partners ICICI Bank to enable Digital Rupee on PoS terminals

Digital Rupee opens up exciting opportunities and if implemented correctly, it can accelerate the migration from paper-based currency to digital, said Pine Labs CEO B Amrish Rau