The Singapore Monetary Authority (MAS) has ultimately chosen 15 companies to assist in the development of retail CBDC. These companies will take part in the Global CBDC challenge and contribute to the development of an in-house retail central bank digital currency. Singapore Central Bank Select 15 retail CBDC Companies According to the MAS release, four…
Samsung’s Contribution to the Bank of Korea’s CBDC Development The Bank of Korea’s central bank digital currency (CBDC) initiative, which is set to launch by the end of July 2021, is gathering traction. The effort will be aided by electronics giant Samsung, according to the Korea Times. The platform that will support the CBDC will…
Regulators must collaborate with technological professionals to address crypto-crimes such as money laundering and terrorism financing. New Rules and Technologies are required for Digital Currencies Even though digital currencies have been around for a decade, the regulatory systems that regulate them are fragmented, ineffectual, and in some cases non-existent. Illicit activities flourish as a result,…
In an earnings call, CEO of Mastercard stated that the company’s presence in the cryptocurrency space is critical. Traditional financial services platforms are attempting to adapt to the changing financial ecosystem as cryptocurrency adoption becomes more widespread. Payment processors such as Mastercard and Visa intend to use their large client base and international reach to…
