CBDC

The Bank of Thailand has begun pilot testing for its central bank digital currencies (CBDC).

Visa has announced the development of a programmable financial platform for Real Digital - a digital currency of the Central Bank of Brazil (CBDC) that is scheduled for launch in 2024.

The introduction of the digital euro is possibly planned for the third quarter of 2023.

South Korea is known for its technological advances in various fields. With the introduction of cryptocurrencies, the country has begun to actively explore the potential of this industry.

Twelve Russian banks are preparing for the first phase of testing the digital ruble. The CBDC will be available for payments between private individuals.

On December 14, Ukraine's TASCOMBANK announced the launch of a pilot project to test the functionality of the electronic hryvnia. Although the National Bank (NBU) supports this project, it claims that it is the only institution authorized to issue the CBDC, so the pilot project will not have a significant impact on the development process.

Interest in CBDC is growing all over the world. While many countries, most notably China, are actively working on developing their digital coins, some other countries are just preparing to jump on the bandwagon. Recently, Georgia has decided to join the CBDC race.

The scrutiny that US regulators are imposing on cryptocurrency companies seems to be becoming a trend. Kraken is the latest company to run into trouble. The exchange had to pay a $1.25 fine for alleged illegal activity.

The wave of central bank digital currency (CBDC) is gaining traction around the world and the Ukrainian government plans to pay its employees with digital hryvnia.