(ATF) Amendments to the Chiang Mai Initiative Multilateralisation – a $240-billion currency swaps agreement involving Southeast Asian nations, plus Korea, China and Japan – went into effect on Wednesday. The move aims to boost financial self-reliance for participating countries.China, Japan, South Korea and the 10 member countries of ASEAN agreed …
(ATF) The Office of the Comptroller of the Currency released a letter on January 7 announcing that US banks are now allowed to participate in public decentralized networks and use stablecoins to conduct payment settlements. The letter also added that banks under the jurisdiction of the OCC – which is …
TOKYO: The Bank of Japan on Friday unveiled a plan to examine more effective ways to achieve its 2% inflation target, following in the foot steps of its US and European peers as a renewed spike in infections threatened to derail a fragile recovery.As widely expected, the central bank kept …
(ATF) China has released a new five-yuan banknote. But as the central banks rolls out its digital currency, and electronic payment technologies such as Alipay and WePay account for a growing number of transactions, many wonder about the purpose of the new bill.The paper note was unveiled on November 5. …
(ATF) The coronavirus has accelerated the world’s move away from cash. Now central banks are considering developing digital versions of the notes and coins in our wallets. Sweden and mainland China could well launch CBDCs – central bank digital currencies – during 2021.These are not cryptocurrencies or units used in …
LONDON: China is seeking to win a first-mover advantage in its efforts to develop a digital version of its currency, Japan's top financial diplomat said on Thursday. The People's Bank of China is one of many central banks across the world looking at creating their own digital currencies, spurred on …
