UK Finance, Member Banks See Benefits During Experimental Phase of a Tokenization, CBDC Platform
Barclays, Citi UK, HSBC and Natwest participated in the Regulated Liability Network test.
CBDCRolling coverage of the latest economic and financial newsLatest: Consultation on UK digital currency next yearCBDC could come in second half of decadeNIESR says household incomes face painful squeezeSqueeze on household incomes to lead to a doubling of destitutionProblems will be exacerbated by BrexitEarlier:UK grocery inflation hits 14-month high, as Christmas spending starts earlyBond boosts cinema spending as consumer demand drives retail recoveryPrimark announces expansion plans and sees supply chain issuesFederal Reserve worried that prices of risky assets keep risingAssociated British Foods also points out that Brexit has exacerbated the shortage of lorry drivers in the UK, which is one cause of supply chain problems.In todays annual results, it says:Our businesses are reliant on the availability of skilled HGV drivers.Whilst there is currently a shortage of drivers in other parts of Europe, the USA and Australia, the situation has been exacerbated in the UK as a result of the EU exit. We continue to work closely with our major carriers and logistics partners to minimise supply chain disruption. Continue reading...
Britcoin CBDCBarclays, Citi UK, HSBC and Natwest participated in the Regulated Liability Network test.
CBDCBarclays published a paper exploring options for various digital pound functionality. It concludes an FMI should be responsible.
CBDC Central Bank Digital Currency Digital PoundAfter the real-time gross settlement crash in July, the BOE is looking for a solution to update the network, proposing synchronization for the revamp while considering wCBDCs as an alternative to the current system.
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In a new discussion paper, the U.K. central bank also said it wants to ensure stablecoins are interchangeable with the pound.
CBDCThe Bank of England is planning wholesale CBDC (wCBDC) trials alongside RTGS synchronized payments as in Project Meridian
CBDC Central Bank Digital Currency