Broxus' May CBDC digest review ๐Ÿ—’

Broxus' May CBDC digest review ๐Ÿ—’

๐Ÿ›‘The ECB released a white paper on the development of the digital euro. Compatibility with other CBDCs for cross-border payments is an important quality. Logging in will be similar to registering accounts with payment services.

๐Ÿ›‘VISA has developed a platform for financing and selling farmers' crops in Brazil, where various CBDC solutions have been tested since March.

๐Ÿ›‘The Central Bank of Canada has launched a public consultation on the digital dollar. The goal is to find out the public's preferences and concerns about CBDC.

๐Ÿ›‘The Reserve Bank of Zimbabwe will start selling gold-backed digital currency. The price will be determined by the international price of gold. The token will be used for savings and payments.

๐Ÿ›‘The Bank of Japan published the results of the second phase of CBDC testing, which tested the technical implementation and performance of the solution. No bottlenecks were found.

๐Ÿ›‘The Central Bank of the Bahamas has updated information about Sand Dollar CBDC, according to which wallet usage remains low. There are plans to release a new version of the wallet and promotional activities to increase usage.

๐Ÿ›‘A study by a team of authors from Columbia University, the University of Pennsylvania, and the University of Chicago showed the risk of fleeing U.S. dollar-linked stablecoins and exposed the dilemma between the price and financial stability of these coins.

๐Ÿ›‘Societe Generale's subsidiary Forge plans to issue its own EUR CoinVertible stablecoin.

๐Ÿ›‘Tether has increased its share of the stablecoin market by reducing confidence in USDC, and has launched a bridge between Ethereum and Avalanche.

๐Ÿ›‘The European Union's legislative framework for crypto-asset markets (MiCA), has been approved by the European Council. It requires the licensing of cryptocurrencies and the establishment of reserves for stablecoin issuers.

๐Ÿ›‘The Abu Dhabi regulator (ADGM) proposed a new legislative framework for funds related to blockchain technology and token issuance. It is an initiative to develop a decentralized economy.

๐Ÿ›‘ADGM has a special licensing regime for virtual asset service providers and has licensed the Venom smart contract platform.

๐Ÿ”— Read more in the original

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