Nigeria’s central bank will explore the adoption of blockchain technology to power a central bank digital currency (CBDC), the potential of stablecoin adoption and regulatory considerations of initial coin offerings (ICOs) over the next two years.

In a briefing to the Treasury Committee on Jan. 10, Andrew Griffith, the Economic Secretary to the Treasury, maintained that the government still supports the underlying technology responsible for crypto tokens such as Bitcoin.

The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year.

The digital euro is essentially a digital money which will have legal significance assured by the ECB, may be utilized with notes to accept transactions in the 19 nations in the Eurozone, and would offer a rapid, safe, and creative payment system that could be utilized by both enterprises as well as individual consumers.

The central People’s Bank of China (PBoC)’s digital yuan is set for another adoption drive as the Chinese New Year approaches: The domestic Chinese e-commerce giant Meituan has announced details of another token giveaway to celebrate the Year of the Rabbit.

Hong Kong should make efforts to encourage the establishment of virtual assets rating agencies, and consider developing the e-HKD, the city’s central bank digital currency (CBDC) in the works, into a stablecoin, a Hong Kong lawmaker said in a recent media interview.

Hong Kong authorities are looking for new designs for a central bank digital currency (CBDC), now proposing to issue a CBDC in the form of a stablecoin backed by the government.

Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof of concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions. 

Bitcoin reached the bank’s attention with WikiLeaks in 2010, presenting a revolutionary concept light years ahead of the banks’ methods, effectively canceling trusted third parties and allowing P2P transactions.

As of December 2022, all G7 economies had moved into the development stage of a central bank digital currency, according to the Atlantic Council (AC).