Traditional banks—many of which are around a century old and inevitably have outdated systems, cultures and product offerings—are failing millions of individuals in the world’s richest countries, and billions in the world’s poorest places. Globally there are 1.7 billion adults who do not have a bank account. One in four U.S. households are either unbanked
Category: BANK AND DIGITAL FINANCE INCLUSION
In this issue Is India’s central bank greenlighting crypto? Thailand’s SEC tries to rein in DeFi with new rules Bitcoin transaction fees plummet to new lows Cardano rolls out Alonzo upgrade in prep for DeFi Will China’s future digital yuan offer smart contracts? From the Editor’s Desk Dear Reader, In Asia, “face” —
Central bank digital currencies could use networks like ethereum, China’s former digital yuan chief says | Currency News | Financial and Business News
A consumer uses a digital yuan red envelope in a mobile phone to buy goods at a digital yuan cashier’s desk Costfoto/Barcroft Media via Getty Images Yao Qian, the former head of China’s digital yuan team said central bank digital currencies could use blockchain networks like ethereum in the future, Sina Finance reported on Monday.
(Kitco News) Central bank digital currency is the future of Russia’s financial system, especially in light of the developing digital economy, said Russia’s central bank governor Elvira Nabiullina. “It’s the future for our financial system because it correlates with this development of digital economy, digital finance,” Nabiullina told CNBC on Wednesday. “We
The Monetary Authority of Singapore(MAS) is joining the Mojaloop Foundation, the first central bank to send a director to serve as an advisor to the board of the foundation which supports financial inclusion in developing countries, primarily in Africa and South Asia. MAS is both Singapore’s central bank and its integrated financial regulator. The foundation’s
The growth in online banking has been – and will continue to be – rapid. From a valuation of $11.43 billion in 2019, the projections are that it will reach $31.81 billion by 2027, at a CAGR of 13.6%. For the incumbent banking system, this rapid growth poses a real and ongoing challenge, as it