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Mastercard Leads New Central Bank Digital Currency Test Platform

PYMNTS

Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). The testing tool comes as the global economy embraces digital payments and central banks investigate how to support innovation while maintaining financial stability as they issue the currency. In a Wednesday (Sept.

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Visa Seeks Patent On System To Turn Government Currencies Into Digital Blockchain Versions

PYMNTS

patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. A central entity may implement a monetary policy and issue currency.

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El Salvador Alters Bitcoin Policy

Global Finance

At the end of January, on a vote of 55-2, El Salvadors Legislative Assembly passed modifications to the Bitcoin law, eliminating the word currency but keeping it legal tender. As part of a $1.4 The changes will take effect May 1, 90 days after the legislation appeared in the official newspaper.

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Will The Pandemic Finally Get Central Banks Interested In Building Digital Currencies?

PYMNTS

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. A central entity may implement a monetary policy and issue currency.

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Major German Tech Firm Backs Call For Accelerated EU Digital Currency

PYMNTS

A major German digital security firm that is a significant player in the electronic payments sector on Tuesday (Sept. 15) has backed a call by the head of the European Central Bank (ECB) for quick exploration into creating an official European Union digital currency. In the digital world, speed is the most important factor.

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EIL, MECON, 4 others in fray for RBI's currency management project

CFO News

State-owned Engineers India and MECON, alongside four private firms, have been shortlisted for RBI's project to modernize its currency management infrastructure. The project aims to create advanced storage, introduce automation, enhance security, and improve efficiency to meet future cash needs.

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Tanzania: East Africa’s New Powerhouse

Global Finance

However, there are pockets of risk, including a high public debt, a foreign currency shortage, and jitters over the coming 2025 presidential election. Vital Statistics Location: East Africa Neighbors: Mozambique, Malawi, Zambia, DRC, Burundi, Rwanda, Uganda, and Kenya Capital city: Dodoma Population (2024): 69.3