On May 24, the central bank published the final list of CBDC pilot participants. Participants were chosen from a pool of 36 bids made by single companies and consortia, “totaling more than 100 institutions”. The final number of participants is 14; however, some represent groups of companies. For example, the United States-based tech giant, Microsoft; Brazil-based bank, Banco Inter; and the digital technology company, 7COMm, comprise one of the 14 participants.

Read more: Cointelegraph

The post Visa, Microsoft and others join Brazilian CBDC pilot appeared first on FinTech Ranking.

Both bills under consideration would allow both banks and non-banks to issue stablecoins.

It was the second time during the current congressional session that proposed stablecoin legislation has come to the floor, with the first hearing on April 18 quickly devolving into bipartisan bickering.

Read more: PYMNTS

Image by Jacqui from Pixabay

The post US Lawmakers Debate Dueling Stablecoin Bill Drafts appeared first on FinTech Ranking.

The e-HKD Pilot Programme is a key component of Rail 2 under the HKMA’s three-rail approach in paving the way for the possible implementation of a retail central bank digital currency (CBDC), i.e. e-HKD, in the future. Under the Pilot Programme, the HKMA will conduct a series of pilots in close collaboration with various stakeholders to examine the use cases, as well as implementation and design issues relating to e-HKD. Through this iterative process, the outcomes and insights gained from each pilot would help enrich the HKMA’s perspective and refine the HKMA’s approach to the possible implementation of e-HKD. The HKMA is not yet at a point where a firm decision can be made to introduce e-HKD.

Read more: HKMA

The post Hong Kong Launches CBDC Trials With 16 Firms appeared first on FinTech Ranking.

Currently, Louisiana, Alabama, Texas and North Dakota have all drafted bills opposing a digital dollar. 

CBDCs are a hot topic right now. Unlike cryptocurrencies such as Bitcoin or Ethereum, CBDCs are overseen and operated by a centralized entity. 

Read more: Decrypt

Image by Gerd Altmann from Pixabay

The post Ron DeSantis Banned CBDCs in Florida—These States Could Be Next appeared first on FinTech Ranking.

On May 15, the Bank of Korea (BOK) and Samsung signed a memorandum of understanding (MOU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of the CBDC issued by the central bank.

Read more: Cointelegraph

The post Samsung to research South Korea’s CBDC for offline payments appeared first on FinTech Ranking.

The consultation opened today and runs until June 19.

The way Canadians pay for everything from the daily necessities to major purchases is evolving rapidly. As the world becomes increasingly digital, the Bank—like many other central banks—is exploring a digital version of Canada’s national currency.

“As Canada’s central bank, we want to make sure everyone can always take part in our country’s economy. That means being ready for whatever the future holds,” said Senior Deputy Governor Carolyn Rogers.

At this time, a digital Canadian dollar is not needed. And any decision to issue one rests with Parliament and the Government of Canada.

Read more: The Bank of Canada

The post Bank of Canada launches public consultations on a digital dollar appeared first on FinTech Ranking.

Among the eight technologies are artificial intelligence, communication and network technologies, biotechnology and semiconductors, with the inclusion of distributed ledger technology (DLT) and digital identity infrastructure grabbing the crypto community’s attention.

Read more: Cointelegraph

Photo by Aaron Kittredge

The post White House to build international standards for DLT appeared first on FinTech Ranking.

U.S. lawmakers are increasingly opposing the issuance of a digital dollar, with Florida Gov. Ron DeSantis proposing similar legislation to ban CBDC payments in his state.

Read more: CoinDesk

The post North Carolina House Unanimously Votes to Ban Digital Dollar Payments to the State appeared first on FinTech Ranking.

On April 27, the HKMA issued a circular related to the access of corporate customers to banking services. In the document, the regulator has required authorized institutions, referred to as “AIs,” to adopt a risk-based approach in Anti-Money Laundering efforts.

The HKMA also urged the institutions in Hong Kong to pay attention to market developments and take a forward-looking approach to new sectors like the crypto market. 

Read more: Cointelegraph

The post Hong Kong regulator requires banks to open accounts for crypto firms appeared first on FinTech Ranking.

China’s biggest messenger WeChat said Wednesday that it’s extended the use of e-CNY payments to transactions happening through its short video and mini-app platforms, which together cover merchants from small influencers to brands touting products on WeChat.

Read more: TechCrunch

The post China’s central bank digital currency takes a bigger place on WeChat’s platform appeared first on FinTech Ranking.