The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Digital Currencies Heat Up As World’s Leading Central Banks Join Forces to Explore New Financial Infrastructure

by Daily Hodl Staff
January 21, 2020
in Regulators

Several central banks have announced the formation of an official group to assess potential use cases for central bank digital currencies (CBDCs).

The new group, co-chaired by European Central Bank Board Member Benoit Coeure and Bank of England Deputy Governor Jon Cunliffe, and joined by the Bank for International Settlements (BIS), will explore how emerging technologies can impact cross-border transactions and other central banking functions.

Central Banks Joining Resources to Explore CBDCs

  • Bank of Canada
  • Bank of England
  • Bank of Japan
  • European Central Bank
  • Sveriges Riksbank
  • Swiss National Bank

According to the announcement,

“The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies. It will closely coordinate with the relevant institutions and forums – in particular, the Financial Stability Board and the Committee on Payments and Market Infrastructures (CPMI).”

China pushed governments to jump into gear and take action on digital currencies. Spurred by the prospect of Facebook launching its own stablecoin project, dubbed Libra, which has the ability to reach over two billion users, China has been taking the lead to become the first major economy to digitize its national currency. The digital yuan is reportedly on track and is entering the next phase of development.

Says Multicoin Capital’s Beijing-based partner Mable Jiang,

“It’s a kind of Cold War, but not just for crypto. Currency is the leverage.”

In the United States, former US Commodity Futures Trading Commission Chairman J. Christopher Giancarlo is spearheading the Digital Dollar Project, an effort to explore the creation of a digital US dollar backed by the Federal Reserve.

The new digital currency race is on among the world’s leading economies. CBDCs promise a competitive edge by enabling countries to move money digitally, securely and more swiftly by shaving days off of transactions.

Digital currencies are also capable of streamlining back office functions for banking and financial services by boosting the efficiency and speed of interbank transfers and cross-border transactions while also targeting use cases for crypto-friendly Millennials and tech-savvy consumers.

.@GBBCouncil's #BlockchainCentral Davos sessions start today with "The Revolution of Money is Here: Are You Ready?" cohosted by GBBC member @Accenture!@DBTreat @giancarloMKTS @JoannePo @ddisparte @vaizey

See the complete #BlockchainCentral agenda here:https://t.co/jwPfp07l18 pic.twitter.com/d6J9HITrka

— Global Blockchain Business Council (GBBC) (@GBBCouncil) January 21, 2020

Giancarlo is emerging as a leading figure in the US pushing for an overhaul of the financial infrastructure that underpins the world’s most traded currency. Speaking at the Global Blockchain Business Council (GBBC) in Davos, Switzerland for this week’s 4th Annual Blockchain Central Davos, and as the keynote speaker at BEF Davos, Giancarlo says the US needs a digital dollar to remain competitive in the global economy.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Michelangelus

Submit a Press Release

Industry Announcements

  • MultiBank Group to List MBG Token on Gate.io and MEXC During Official Token Generation Event
    July 18, 2025
  • GSR Leads $100M Private Placement into Nasdaq-listed MEI Pharma to Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee
    July 18, 2025
  • KuCoin Launches xStocks, Delivering a One-Stop Access Point to Top Global Tokenized Equities
    July 18, 2025
  • PlayW3 Unleashes ‘Be the Boss,’ a New On-Chain Business Model That Turns Creators Into Owners – Over $320,000 Already Paid Out
    July 17, 2025
  • Streamex (BSGM) CEO Henry McPhie Highlights BSGM Merger and RWA Tokenization Strategy in Live TV Interview
    July 17, 2025
  • Numerai Announces $1 Million Strategic Buyback of NMR
    July 17, 2025
  • Bit Origin Secures $500 Million Equity and Debt Facilities To Launch Dogecoin Treasury
    July 17, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$118,949.87
$118,949.87
0.92%
Ethereum
$3,629.12
$3,629.12
6.18%
BNB
$759.94
$759.94
5.7%
Solana
$180.07
$180.07
2.56%
XRP
$3.48
$3.48
7.84%

Spotlight

  • Bitcoin Primed for the Next Major Parabolic Advance, Says Crypto Analyst Kevin Svenson – Here Are His Targets
    July 11, 2025
  • Trader Outlines Catalysts That Could Trigger 350% Bitcoin Rally, Updates Outlook on Ethereum and Avalanche
    July 11, 2025
  • ‘This Could Very Well Be the Ultimate Bull Trap’ – Trader Issues Urgent Crypto Warning As Bitcoin Blasts Past $118,000
    July 11, 2025
  • Banks With One ‘Deficient’ Rating Could Still Be Considered ‘Well Managed’ Under New Federal Reserve Proposal
    July 11, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl