On December 17, 2021 the Central Board of the Reserve Bank of India (RBI) discussed various aspects related to central bank digital currency (CBDC) and cryptocurrencies. RBI officials reportedly informed the Board that they are working on both wholesale and retail CBDC, and a pilot project will be launched soon. They said that, while a lot of work is already done on wholesale accounts, the retail issue is slightly complicated and the central bank is taking some time on it. [Read more]
The International Securities Services Association published a paper on the potential application of CBDC and stablecoins in the capital markets post-trade landscape, with a specific focus on securities settlement. It provides an overview of key use cases, opportunities, and considerations for market infrastructures, custodians, intermediaries and service providers to consider. In addition, it outlines the potential impact that CBDC and stablecoins could have on the banking, fintech, and securities industry. [Read more]
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