The Reserve Bank of Zimbabwe (RBZ) has invited individuals and financial institutions in the country to subscribe to its upcoming gold-backed digital token, which is set to combat the country's volatile local currency. Applications for the tokens must be for a minimum of $10 for individuals and $5,000 for financial institutions and corporates. The tokens will be issued on May 8 in two phases, with the first phase being for investment purposes and available for sale through banks and the second phase allowing person-to-person and person-to-business transactions. The RBZ hopes to combat inflation, which stood at 87.6% in March.

The digital ruble platform being developed by the Bank of Russia will have the capability to interact with other state-issued digital currencies, according to the central bank. The bank is working on mechanisms to facilitate interaction with digital coins issued by other countries' central banks, potentially through two-way integration or an international digital platform. The Bank of Russia does not plan to create a national crypto exchange but is considering legalizing international crypto settlements under experimental legal regimes. The bank is also open to using stablecoins in cross-border payments or trading them through Russian exchanges. The bank is exploring alternative payment gateways with partnering nations, including Turkey, amid Western sanctions over the war in Ukraine.

The Bank of England has successfully tested the use of distributed ledger technology (DLT) in running large and complex interbank transactions through "Project Meridian". The project, run through the Bank for International Settlements' London innovation hub, used DLT to link the central bank's Real-Time Gross Settlement system with other financial market infrastructures and ledgers, orchestrating the exchange in ownership of funds and assets in a resilient and secure way. The project tested scenarios transferring funds from buyer to seller only if a corresponding asset on a real estate registry moved simultaneously in the opposite direction, but the prototype can be applied to other registries and asset classes, such as foreign exchange.

The Bank of Israel is monitoring scenarios that could influence a decision to issue a digital shekel, including the widespread adoption of stablecoins. The central bank has not yet made a decision on issuing a central bank digital currency (CBDC), but a 21-page report outlining potential scenarios notes that the Bank of Israel must be prepared to issue a digital shekel if certain variables support it. These variables include a decline in cash usage, significant use of stablecoins, competition in the domestic payment system, and significant technological developments in payment systems. The report also notes that a decision by the US or the European Union to issue CBDCs could influence the Bank of Israel's decision.

Chinese banks are opening bank accounts for regulated crypto companies, with several acting as a payment layer for the crypto platforms.

Central banks including the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan, have stopped shrinking their balance sheets. This tactic, called quantitative tightening, was adopted last year to control inflation but destabilized risk assets such as cryptocurrencies. Expansion of central banks' balance sheets is considered bullish for risk assets, including bitcoin, as entities involved in financial markets are often the first recipients of newly created money. The jury is still out on whether the Fed's recent extension of loans to local lenders will result in fresh money creation. The BOJ continues to print money through bond purchases, while the Chinese credit impulse has recently bottomed out, indicating renewed credit expansion relative to the size of the economy.

The Central Bank of Montenegro has signed an agreement with Ripple to develop a strategy and pilot program for a Montenegrin digital currency in the form of a central bank digital currency or a stablecoin. The project will go through several stages, including identifying the practical application of a digital currency or national stablecoin. A sandbox stage is planned to put the future digital currency into circulation under controlled conditions. The project will begin this month. Ripple has multiple CBDC projects ongoing around the world and is in dialogue with dozens of central banks globally.

The U.S. affiliate of global crypto exchange Binance has struggled to find a bank for its customers’ cash after the failure of Signature Bank left it without a key banking partner, people familiar with the matter said. 

Singapore's central bank and police authorities have been working with banks to set uniform standards for vetting approaches when opening crypto accounts. The project has been ongoing for about six months, and a separate industry report outlining best practices in areas like due diligence and risk management could be published in the next two months. The report would cover stablecoins, NFTs, and gaming credits. The Monetary Authority of Singapore (MAS) stated that there are no rules stopping banks operating in the country from doing business with firms handling cryptocurrencies or other forms of digital assets. However, the banks will decide whether to accept these clients based on their risk appetites. This comes as US authorities have been cracking down on banks that serve crypto customers, leading to crypto companies scrambling to find banking partners and jurisdictions to conduct business.

Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.”