Page 3 - Digital Currency

India digital rupee transactions hits 18,000 a day, still below target

The central bank last year began pilot programmes to use the e-rupee in retail and wholesale markets as an alternative to cash

IDEMIA, Airtel, Nokia join hands for offline CBDC payment on feature phones

Under this collaboration, IDEMIA's technology will offer an offline layer to ensure instant and secure transactions without the need for online validation

Reserve Bank of India likely to bring in CBDC in call money market

The central bank introduced the wholesale pilot for CBDC transactions for the government bond auctions last year

RBI plans to widen use of wholesale CBDC in call money market: Official

India's CBDC is currently in a pilot phase across the retail and wholesale segments. The central bank has set a target of one million transactions a day by the end of 2023

State Bank of India announces introduction of UPI interoperability on CBDC

The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC). With this move, the bank aims to deliver unprecedented convenience and accessibility to its customers, SBI said in a statement. This cutting-edge feature, accessible through the 'eRupee by SBI' application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions, it said. SBI was among the first few banks to participate in the RBI's retail digital e-rupee project in December 2022. "The seamless integration of CBDC with UPI marks a significant leap for the bank, enhancing the acceptance and utilization of digital currencies in everyday transactions," it said. This integration will be a game changer for the digital currency ecosystem, it said, adding, the move is the outcome of our unwavering commitment to pushing the boundaries of digital innovation to accelerate the transition to a

A step-by-step approach to CBDC

Why would anybody shift from UPI to CBDC? What are its advantages over UPI?

Stan Lee NFT collection sells out almost instantly, rises 500%: Report

The collectibles sold for $15 each, Kartoon Studios' partner Veve said on its website, meaning the drop of 8,294 netted about $120,000 in revenue

The grey zone of digital currency

Sundeep Khanna's book is an up-to-the-minute and competently written chronicle of how India interacts with virtual assets

CBDC QR code to be interoperable with UPI by July-end: RBI T Rabi Sankar

Aims for 1 million CBDC transactions by year-end

CoinDCX partners with KoinX to allow crypto tax tracking on its platform

CoinDCX also said that it anticipates a 'significant' number of users benefiting from KoinX's tax assistance services

Soon, you may be able to use the same QR codes for e-Rupee and UPI payments

The interoperability between e-Re and UPI QRs will be implemented only at the front end

As SEC-Coinbase fight begins, it'll be Grewal vs Grewal in the courthouse

Indian-origin Paul Singh Grewal, an attorney working as chief legal officer at crypto exchange Coinbase which is in the thick of controversy

Targeting 1 million CBDC users by end of this month: RBI deputy guv

T Rabi Sankar added the RBI does not have a date in mind on when to go live with CBDC beyond the present pilot project

Monetary policy review: CBDC QR codes likely to be interoperable with UPI

RBI plans to have 1 mn active customers by June-end

Crypto market cracks 5%, Bitcoin at 3-month low after US SEC sues Binance

In its complaint, the SEC alleged that Binance and Zhao had "free reign" over billions of dollars of crypto assets from the US

Pine Labs partners ICICI Bank to enable Digital Rupee on PoS terminals

Digital Rupee opens up exciting opportunities and if implemented correctly, it can accelerate the migration from paper-based currency to digital, said Pine Labs CEO B Amrish Rau

India, UK hold first in-person financial dialogue meeting since 2017

'Scope for augmenting knowledge on CBDC through mutual learning explored'

Volumes yet to pick up, CBDC pilot may continue for another year

Volumes need to rise to a level that can comfort the regulator for a full-fledged launch, the sources said

Bitcoin set to extend its 70% surge this year if key charts are right

Some analysts argue the token is being viewed as a hedge against the woes in the US and European banking sectors and benefiting from expectations of looser monetary policy

G-20: India working on Russia consensus, keeping eye on other core issues

Communique is a consensus document and needs the consent of every member of G-20