Some Russian banks have been increasingly concerned about the potential implications of the digital ruble after the first pilots started in August.
The RLN, which places tokenized assets and liabilities on the same ledger, was tested with simulated cross-border CBDC transactions in a previous project.
Private payment services can gain a monopoly with no benefit to other market players or economic stability, ECB board member Fabio Panetta said.
The Yes Bank app’s UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects since its pilot launch in December.
Jam-Dex would be significantly transformative for the public transportation sector and needs to be embraced, believes Aldo Antonio, co-founder and acting executive chairman of the National Transporters Alliance Group.
The most common hindrances cited include insufficient information about the technology (22%) and concerns about cybertheft and system failures (21%).
The year-on-year growing support CBDCs is supported by ongoing domestic pilots and cross-border initiatives in various jurisdictions, banking giant Citi found.
The payment processor has enlisted a range of market players in its quest for innovation and efficiencies in a technology that 93% of central banks are investigating.
A central bank discussion paper found that the majority of Canadians have little trouble accessing financial services, which gives them little reason to use a CBDC.