Central Bank

The Bahamas to Begin Gradual Launch of World’s First CBDC in October

The Central Bank of the Bahamas has finalized the debut date of its digital currency. This is likely the world’s first central bank digital currency (CBDC). The island nation has rallied ahead of finance giants like France and China. Less than a month away, the first Central Bank Digital Currency is nearly a reality. The Bahamas have finalized the start of phase one of their new CBDC. Last Month, BeInCrypto reported the island nation’s plan to launch the world’s first CBDC. Other countries, such as France and China, were also

Why Bitcoin Just Surged to $13K in Belarus Amid Massive Protests

Belarus has become a hot ground of the great Bitcoin experiment as the country dwells into one of its most disturbing civil crisis. Ask prices for the world’s leading cryptocurrency by market capitalization are going higher across peer-to-peer platforms. Data fetched from Paxful, a Bitcoin marketplace, show people demanding a $2,500 premium for one unit of the cryptocurrency. While the rates differ from one seller to another, the average Bitcoin price as on Friday stands near $13,000. Bitcoin bids in Belarus and their dollar equivalent rates. Source: Paxful, Google In

ECB President Christine Lagarde Says Digital Euro Could Complement Cash

European Central Bank (ECB) President Christine Lagarde has suggested that the Eurozone could benefit from adopting the ‘digital euro’ as the EU’s post-pandemic recovery kicks into gear. The ex-IMF President made the comments while addressing the Franco-German Parliamentary Assembly in Frankfurt on Sept 21. According to Lagarde, the Digital Euro should not be viewed as a replacement, but rather a complement to cash. In a nod to cryptocurrency, she also stated that adopting a digital euro could serve as an alternative to private digital currencies. Lagarde’s Remarks on Digital Euro

Binance Coin, Tezos, Cosmos Price Analysis: 16 September

Binance Coin retraced some recent gains and could fall further, while Tezos looked also likely to drop. XTZ showed no signs of reversing the downtrend it was caught in. Cosmos showed rising bearish momentum in the near-term and its price ranged between two strong levels that have refused to be flipped since early September.Binance Coin [BNB]Source: BNB/UDST on TradingViewBinance Coin reached a local high of $33.38 and subsequently retraced some gains. It was valued at $26.88 at the time of writing and was trading right beneath the 23.6% retracement of

Bitcoin This Week: All Eyes on Fed Meeting After $10,500-Rejection

Bitcoin closed last week with a brief jump above $10,500, a critical resistance target that excited traders into booking their short-term profits. The result was a dump. Bitcoin’s benchmark symbol BTC/USD trimmed about $350 off its weekly top overnight. Furthermore, the pair fell into the same trading range that trapped its breakout moves throughout this September. Entering the new week, the technical outlook for BTC/USD remains the same as before: Fluctuate inside the $9,800-$10,400 area. Bitcoin rejects $10,500 to enter the previous consolidation range. Chart Source: TradingView Josh Rager, the

Stocks Are Weaker While Digital Assts Are Tentatively in the Green

The news came in just as Christine Lagarde, president of the European Central Bank, was holding a press conference and doing a fair job of bolstering the euro. During her speech, the EUR/USD rose by about 50 pips, which some of you know is the smallest possible movement in the foreign exchange market. This does look pretty impressive on the short term chart (left) but when you zoom out a bit, we can see that’s it’s hardly a significant move. The euro has made some fairly strong gains against the

How Will China’s DCEP Affect WeChat Pay and Alipay?

With the growing interest and adoption of cryptocurrencies, about 80% of central banks worldwide are looking to create their own cryptocurrency. The People’s Bank of China (PBoC) is at the forefront of them all. China’s central bank has been working on its DCEP for about six years now. In 2018, China’s Central Bank former governor Zhou Xiaochua pointed out that it will take nothing less than a decade for its digital yuan to be fully functional. However, several events have propelled this timeline forward. One of which was the proposed

Brazil could have CBDC in two years, says central bank president

The president of Banco Central — Brazil’s central bank — has announced Brazilians could expect to see a central bank digital currency before 2023. According to a Sept. 2 report from news outlet Correio Braziliense, Brazil could be ready for a central bank digital currency (CBDC) in 2022. Roberto Campos Neto, the president of Banco Central, stated that the country’s central bank had already undertaken measures to modernize the Brazilian financial system which has made a CBDC the natural outcome. The president cited the country’s PIX instant payment system and open