🚀 Norwegian Central Bank Advances CBDC Research With Decision Expected By 2025
#NorwegianCentralBank #CBDC #CentralBankDigitalCurrency #digitalcurrency #research #pilotphase #wholesalecbdc #2025
According to Odaily, the Norwegian Central Bank is progressing with its research on Central Bank Digital Currency (CBDC), aiming to make a decision by the end of 2025. Deputy Governor Pal Longva stated that Norway is not concerned about lagging behind other wealthy nations in the realm of CBDCs and is currently in the pilot phase of exploring this digital currency. In December 2023, the Norwegian Bank released the results of the fourth phase of its CBDC experiment, concluding that a retail CBDC was not necessary at that time. The bank is now extending its research to the fifth phase, focusing on wholesale CBDC applications, with plans to finalize its decision by the end of 2025.#NorwegianCentralBank #CBDC #CentralBankDigitalCurrency #digitalcurrency #research #pilotphase #wholesalecbdc #2025
🚀 Italian Banks Support Digital Euro Project with Investment Concerns
#ItalianBanks #DigitalEuro #ECB #EuropeanCentralBank #MonetarySovereignty #Eurozone #InvestmentConcerns #DigitalCurrency #FinancialRegulation #EU #LegislativeProcess #Banking #PilotPhase #EU2026 #Euro2029
According to PANews, a senior official from the Italian Banking Association (ABI) has stated that Italian banks are in favor of the European Central Bank's (ECB) digital euro initiative. However, they hope that the necessary investments for the project can be spread out over time due to the high costs involved.
The ECB has been working on developing a digital version of the single currency to enhance monetary sovereignty within the eurozone. Despite this, the legislative process has been slow, partly due to opposition from some French and German banks. These banks express concerns that millions of Europeans might use the ECB's online wallet for daily transactions, potentially depleting their bank deposits.
During a meeting held in Florence on October 29-30, the ECB's Governing Council decided to advance the digital euro project to the next phase after completing a two-year preparation period. The project is expected to officially launch in 2029, following a pilot phase in 2027, contingent upon the anticipated approval of relevant EU legislation in 2026.#ItalianBanks #DigitalEuro #ECB #EuropeanCentralBank #MonetarySovereignty #Eurozone #InvestmentConcerns #DigitalCurrency #FinancialRegulation #EU #LegislativeProcess #Banking #PilotPhase #EU2026 #Euro2029
🚀 SEC Approves DTCC's Blockchain-Based Tokenization Services
#SEC #DTCC #Blockchain #Tokenization #TokenizedStocks #RealWorldAssets #FinancialSystem #BlockchainApproval #HesterPeirce #MarketMigration #ClearingServices #SecuritiesServices #RecordKeeping #PilotPhase
According to PANews, the U.S. Securities and Exchange Commission (SEC) has granted permission to the Depository Trust & Clearing Corporation (DTCC) to host and recognize tokenized stocks and other real-world assets (RWA) on a blockchain. This approval allows DTCC to offer tokenization services on a pre-approved blockchain for a three-year period. SEC Commissioner Hester Peirce stated that although the project is still in its pilot phase and subject to various operational constraints, it represents a significant step towards market migration onto the blockchain.
Michael Winnike, DTCC's Global Head of Strategy and Market Solutions for Clearing and Securities Services, mentioned in an interview that following the approval, DTCC plans to extend its record-keeping operations to the blockchain.
DTCC plays a crucial role in the U.S. financial system as a central clearing and settlement hub for stocks and fixed income products. Many liquid assets in the U.S. market are stored in DTCC's custody division, the Depository Trust Co. The company anticipates launching its new tokenization services in the latter half of next year.#SEC #DTCC #Blockchain #Tokenization #TokenizedStocks #RealWorldAssets #FinancialSystem #BlockchainApproval #HesterPeirce #MarketMigration #ClearingServices #SecuritiesServices #RecordKeeping #PilotPhase