article thumbnail

Bahamas Launches Digital Sand Dollar; Adds To Rise Of Central Bank Digital Currencies

PYMNTS

The EMTECH Modern Central Bank Sandbox will assist central banks in setting up digital currency that’s interoperable and thus can be converted to other cryptocurrencies, and is compatible with payment devices and terminals worldwide. In addition, there is any number of pathways a digital currency issuance can take.

Cleveland 357
article thumbnail

Fed, Central Banks Frame Criteria For Digital Currency

PYMNTS

Fed Governor Lael Brainard said in August that the Federal Reserve Bank of Boston is working with researchers at MIT to “build and test a hypothetical digital currency oriented to central bank uses.” The Fed also launched an instant payment initiative in August.

Cleveland 262
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Digital dollars could make the leap from concept to reality, but there might be a few ways to get there.

Cleveland 330
article thumbnail

Stablecoin Outlook Anything But Stable As Regulation, Legislation Loom

PYMNTS

As noted earlier in the fall , Cleveland Federal Reserve President Loretta Mester said in a speech that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Read More On Cryptocurrency: Bitcoin Daily: India Eyes Crypto Income Tax; Ripple Unloads $15.3