Kazakhstan Launches Digital Currency Pilot Led by New Payment Corporation

The National Bank of Kazakhstan established the National Payment Corporation to lead CBDC development.
The NPC will oversee the national payment system and implement the digital tenge.
The digital tenge pilot is currently in a controlled environment with consumers and merchants.
Binance supports the pilot through its BNB Chain and launched a regulated platform in Kazakhstan.
The CBDC aims to increase financial inclusion and support international trade.

cointelegraph.com

Relevant topic timeline:

8/23/2023

Kazakhstan’s S1lkPay Fintech Startup Receives US Patent - The Astana Times

The main topic of the article is that Kazakhstan-based fintech startup S1lkPay has secured a patent in the United States for its innovative method and system for distributed payment processing using a centralized payment-processing platform. 1. S1lkPay has secured a patent in the United States for its innovative method and system for distributed payment processing. 2. The patent allows the company to enter new markets, get regulatory approvals, and form new partnerships. 3. Kazakhstan's startup ecosystem is gaining increased confidence from domestic and foreign investors, with S1lkPay being listed among the top startups attracting venture capital funding.

8/24/2023

CBDCs are the future of global money

Central banks are exploring the issuance of digital currencies to promote financial inclusion and provide easier access to money for unbanked populations, with the potential to reduce dependence on cash, increase local currency adoption, and impact the role of international currencies such as the US dollar.

9/29/2023

Georgia Shortlists Ripple for Limited CBDC Pilot to Test Digital Lari

The National Bank of Georgia (NBG) has announced a limited-access live pilot environment for its digital lari central bank digital currency (CBDC), with nine companies, including Ripple Labs, participating in the project.

10/3/2023

Eurozone Central Banks Accelerate Plans for Wholesale Digital Currency Ahead of Retail Rollout

Eurozone central banks are planning to introduce a wholesale central bank digital currency (CBDC) to facilitate faster settlement of securities and forex transactions, while plans for a digital euro for regular citizens are facing concerns over privacy and the impact on commercial banks. The central banks aim to explore new technologies and protocols, including blockchain, and trials with real transactions will be conducted next year.

10/4/2023

French Central Bank Official Advocates CBDCs to Improve Global Payments

The French central bank views central bank digital currency as the catalyst for improving cross-border payments and the foundation of a new international monetary system.

Topics

Posted 9/18/2023, 8:48:45 AM