CBDC development is in full swing. CoinShark journalists have prepared a digest about what the authorities of different countries are doing when creating digital currencies of central banks.
BIS (Bank for International Settlements) is experimenting with cross-border payments using CBDC. Several projects are currently being implemented:
- mBridge (UAE, China).
- ILR2 (Hong Kong, Thailand).
- Jura (Switzerland, France).
- Project Dunbar (Singapore, Australia, Malaysia, South Africa).
Qatar is planning to launch a CBDC and is considering digitizing most of the central bank's products.
Russia plans to launch CBDC 1 year ahead of schedule. Consumer pilot projects will be launched in April 2023. CBDC will become an alternative to SWIFT, and will also be integrated into a single system with the digital yuan. This will allow cross-border transfers between Russia and China.
Iran will launch the national currency Crypto-Rial on August 23. The government plans to replace paper money. The pilot project will be tested in one region of the country. The timing of the full launch of CBDC has not yet been announced.
The US is preparing a CBDC implementation strategy. Jerome Powell (head of the Fed) spoke about this during a speech in the Senate. According to him, the digital dollar should become the prerogative of the state.
CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.