Latest news with #CBDCs
Arabian Post
2 days ago
- Business
- Arabian Post
Shanghai to Host Global Operations Centre for Digital Yuan
China's central bank governor, Pan Gongsheng, announced at the Lujiazui Forum on 18 June that a dedicated international operations centre for the e‑CNY will be established in Shanghai. The move signals Beijing's renewed push to extend the digital yuan's reach in global transactions and shift the balance of currency power. Pan described stablecoins and central bank digital currencies as 'reshaping cross‑border payments', emphasising that global financial infrastructure needs stronger regulatory alignment. He argued that traditional cross‑border payment systems are inefficient, vulnerable to politicisation, and susceptible to unilateral sanctions. The Shanghai centre will serve as a nexus for international e‑CNY operations, aiming to streamline digital yuan transactions abroad and enhance integration with global financial markets. This facility complements efforts to boost the Cross‑Border Interbank Payment System, which has recently onboarded major international banks, including Standard Bank and First Abu Dhabi Bank. ADVERTISEMENT Governor Pan framed this initiative as part of a broader strategy to foster a 'multi‑polar international monetary system'. By promoting competition among key currencies, China seeks to reduce reliance on the US dollar while enhancing financial system resilience. Pan also called for more coordinated global regulation of stablecoins and CBDCs. As digital monetary instruments gain traction, he said global oversight must be harmonised to manage risks effectively. Beyond infrastructure, Chinese regulators affirmed their commitment to exchange‑rate stability and further opening domestic financial markets. Zhu Hexin of the State Administration of Foreign Exchange noted improved tools to counter external pressures, while Li Yunze of the National Financial Regulatory Administration highlighted efforts to foster a transparent and predictable environment for international investors. Analysts say China's timeline aligns with expanding e‑CNY pilots and integration of public transport systems in several cities, such as Chengdu, Beijing, Suzhou, and Shanghai. The Shanghai centre appears aimed at extending these domestic innovations into globally scaled applications. Internationally, China has taken part in multilateral CBDC initiatives such as Project mBridge, alongside the BIS, Hong Kong, Thailand, UAE, and Saudi Arabia. This collaboration signals a shift toward creating interoperable digital payment bridges and presents an alternative to dollar‑centred systems. Observers suggest that China aims to balance integration with established structures such as SWIFT while developing parallel alternatives like CIPS. That strategy could help counteract geopolitical vulnerabilities inherent in dominant payment networks. Critics caution that for the digital yuan to gain traction, China must address capital‑account restrictions, strengthen market transparency, and win international trust in its legal and regulatory systems. Yet this latest initiative dovetails with China's longer‑term ambition to internationalise the renminbi. The launch of the Shanghai operations centre — with its promise to enable faster, more efficient overseas e‑CNY transactions — may mark a significant milestone in Beijing's drive toward a more diversified global monetary order.
Mint
4 days ago
- Business
- Mint
Why we should not write off the e-rupee yet
In 2019, Meta announced plans to launch a private digital currency. Fearing an onslaught of private cryptocurrencies, some countries responded by announcing their own central bank digital currencies (CBDC). Fast forward to today: Every G20 nation is exploring a CBDC, with 13 countries having plans in the pilot stage. Yet CBDCs have barely made a dent in national payment systems. India launched the e-rupee for individuals in December 2022. And yet, at the end of March 2025, the value of the e-rupee in circulation, at ₹1,016 crore, was a tiny drop in the ocean of India's digital payment ecosystem. The slow uptake of the digital rupee mirrors the experience of other countries. CBDCs launched earlier (Nigeria, China) and in countries with higher financial inclusion (Bahamas) also show low adoption rates. Nigeria launched the e-naira in October 2021; by May 2024, there were only 13 million e-naira wallets, many inactive (Nigeria's population was 232 million, and it had over 200 million mobile phones in 2024). China's e-CNY, launched in 2020, hit 180 million wallets by mid-2024, but reports suggest that many of the accounts are dormant. The value of CBDCs currently in circulation indicates poor public demand and a lack of incentive to shift from existing payment methods. Yet it would be wrong to conclude that the CBDC experiment was a failure, or to dismiss the e-rupee. In the long run, the success of the e-rupee will depend on how it is rolled out and what use-cases it can cater to. Patient rollout The Reserve Bank of India has been in no rush to roll out the e-rupee. The digital rupee remains at the pilot stage, available only to some customers of participating banks and non-banks. By going slow, and testing use-cases patiently and systematically, RBI has minimized outages and execution problems that plagued CBDC pioneers like Nigeria. Any effort to force adoption of the e-rupee could erode trust in the currency. Nigeria faced this situation in 2022 when old naira notes were withdrawn and replaced with new notes. Nigeria's central bank claimed the note ban would create a more cashless society, but the resulting cash shortage caused much hardship and severely eroded people's trust in the system. Worse, it did not have a lasting impact on the use of the digital naira. India hasn't even offered cash incentives to encourage adoption of the e-rupee. This is probably wise. Typically, consumers take advantage of such incentives and go back to old payment modes when the incentive ends. China gave 'red packets" of CBDCs during the Lunar New Year in 2021 to incentivise digital wallet downloads, but there is no evidence that it translated to greater use of the e-CNY. All that said, RBI's two smartest moves related to the digital currency have been allowing two non-banks to offer e-rupee wallets and making digital rupee wallets compatible with the ubiquitous UPI. Non-banks have a different customer base from banks and tend to be innovative in their product design. And in a country where the majority of digital payments ride on UPI, it would have been impossible for any digital wallet to succeed without being integrated with it. The e-rupee's potential There are two broad reasons to continue developing the e-rupee. First, it is a geopolitical imperative. As China pushes to internationalize its currency, the share of renminbi in global trade financing has gone up significantly. China has already built fintech infrastructure to settle cross-border transactions that bypass the US-dominated Swift. In response, several central banks are working on projects to link multiple CBDCs with the objective of facilitating fast and cheap international payments. Developing robust infrastructure will allow the e-rupee to link with other CBDCs when it becomes possible; this will be a big plus for India, given the size of the country's inward remittances. The rising popularity of cryptocurrencies in India could help drive greater adoption of the e-rupee. India's crypto adoption is quite high relative to its income level, and the e-rupee can be an effective foil for cryptocurrencies: it runs on the same secure blockchain technology but offers a safer store of value. Second, new use-cases for the e-rupee are continually being introduced and refined based on user experience. Direct transfer of government benefits to individual e-rupee wallets (as recently done in Odisha) is now par for the course. The real excitement is in programmable e-rupee. Programmed agricultural loans to tenant farmers in Andhra and Odisha have been piloted—these ensure that credit is used only to buy farm inputs from approved vendors. HDFC Bank has introduced user-programmable e-rupee wallets, which let the user decide the location and validity of use. RBI is also exploring offline usage, which can be a game-changer for remote rural areas. For example, e-rupee wallets can be pre-seeded in mobile phones in disaster-prone areas. Such wallets can be programmed to activate when disaster strikes, to give digital fund access to the affected population. The author is an independent writer in economics and finance.
TECHx
12-06-2025
- Business
- TECHx
RTA Hosts Fintech Symposium on Digital Payments
Home » Smart Sectors » Mobility » RTA Hosts Fintech Symposium on Digital Payments Dubai's Roads and Transport Authority (RTA) announced the successful hosting of a fintech symposium focused on digital finance and seamless payments. The event revolved around the theme 'RTA Fintech Beyond Mobility.' It brought together key leaders from the Central Bank, finance, technology, and mobility sectors. RTA revealed that the symposium highlighted the growing connection between fintech and mobility. It reinforced the authority's commitment to building a smart, customer-focused, and seamless transportation ecosystem. Mohammed Yousuf Al Mudharreb, CEO of RTA's Corporate Support Technology Services Sector, delivered the opening address. He welcomed guests from major financial institutions and fintech firms. Al Mudharreb stated that RTA is focused on innovation at the intersection of technology, finance, and transport. He added that their goal is to create an intelligent, cashless mobility system aligned with Dubai's broader digital and AI strategies. The event also featured several key presentations and discussions: Salahaldeen Mohamed Al Marzooqi presented nol card's transition from Card Based Ticketing (CBT) to Account Based Ticketing (ABT). Paul Kayrouz, Chief Fintech Officer at the Central Bank of the UAE, reported on initiatives supporting the UAE's cashless economy and fintech ecosystem. Jan Pilbauer, CEO of Al Etihad Payments, shared insights on the UAE's payment transformation. He discussed the domestic card scheme Jaywan and the instant payment platform Aani. Mohammed Ali Yusuf, CEO of Fuze, explored the role of stablecoins and Central Bank Digital Currencies (CBDCs) in the evolving digital payment ecosystem. The event also included a panel discussion on building successful fintech and digital banks. The panel was moderated by fintech expert Shafique Ibrahim. Participants included Hasan Al Fardan, CEO of Al Fardan Group, Wael Fakharany, CEO of Edenred, and Mohammed Yusuf. They shared their views on driving innovation and growth in the fintech and digital banking space. The symposium concluded with a guided tour of the RTA nol Digital Payment Excellence Centre for distinguished guests. RTA reiterated its commitment to advancing digital finance and building a future-ready fintech environment.
Yahoo
06-06-2025
- Business
- Yahoo
Here's How CBDC Fears Are Fueling Bitcoin's Surge
Chatter about state-run digital money is nudging capital toward Bitcoin. China is extensively testing digital currencies, whereas the U.S. is not. Investors betting on perpetual fear driving prices up should temper their expectations. 10 stocks we like better than Bitcoin › The Y2K bug never melted the global grid, yet the panic-buying of flashlights and canned beans in the last months of 1999 was very real. Today, central bank digital currencies (CBDCs) could be playing a similar role in a different fear cycle. CBDCs are digital currencies issued and controlled by a central bank, combining the convenience of digital money with the potential for state oversight of transactions. Talk of state-issued, fully traceable (and controllable) digital money has some investors looking for a lifeboat, and the main beneficiary this time could be Bitcoin (CRYPTO: BTC). If you think a large and fearful capital flight to Bitcoin driven by CBDCs is improbable in the near term, you aren't wrong. Nonetheless, it's undeniable that a centralized and government-controlled digital currency could threaten financial privacy in a way that encourages certain investors to hold their funds in another form. There's already some evidence that at least a few people are buying Bitcoin for this reason. Let's dig in and understand this trend a bit more so that you'll be prepared if it continues to take off. China's recent push to expand its digital yuan pilot projects is both a technical experiment and a catalyst for Chinese investors seeking to safeguard their financial privacy by seeking alternative currencies like Bitcoin. It's also a good example of how capital can behave in a way that's beneficial to Bitcoin when central bankers start to posture regarding implementing CBDCs. On April 23, the People's Bank of China urged state-owned enterprises to prioritize using the yuan for cross-border payments; the digital yuan is likely going to be promoted next. That move sent a clear message: The Chinese government is accelerating control over money and its flows, thereby spurring underground over-the-counter (OTC) purchasing of Bitcoin in cities like Shenzhen and Shanghai as investors scrambled to move capital offshore. The dynamic echoes early 2023, when the start of one of China's digital yuan pilot programs coincided with a 72% surge in Bitcoin's price from January to April, reflecting a classic flight to a perceived safe asset. With around 94% of central banks now exploring CBDCs, according to data from the Bank of International Settlements, the same impulse that's driving Chinese investors to Bitcoin could very easily spread internationally. In the U.S., CBDC conversations are a mix of cautious exploration and staunch political resistance. The Federal Reserve's research into a digital dollar is ongoing. Yet on Capitol Hill, resistance is mounting. A bill reintroduced in late February seeks to bar the Fed from issuing a CBDC. Furthermore, President Donald Trump's executive order on Jan. 28 bans a "digital dollar" outright, but that could actually spur CBDCs in other countries, as they'll be free to establish any norms they prefer for the currency category. So, U.S. investors aren't exactly afraid of a new CBDC threatening their privacy or control over their funds. However, they could still capture the upside from investors in other countries buying Bitcoin to evade their nations' CBDCs. At the moment, capital flight into Bitcoin as a result of CBDCs is a trend that's just starting to pick up. Still, it's important to keep expectations in check here. Bitcoin probably can't ever replace fiat currencies completely, whether they're digitized or not. Bitcoin's supply is famously capped at 21 million coins. That scarcity can support price strength until the cows come home. But there are many technical hurdles to using Bitcoin as an actual currency rather than merely as a store of value. Everyday transactions are far too slow or too costly to be competitive with cash, even on throughput-specialized side chains like the Lightning network. So while the CBDC debate may push Bitcoin higher to the extent it persists and intensifies, don't expect a one-way rocket ride. Investors can count on a tailwind here as long as privacy fears persist. Still, there's no wholly new reason to invest in Bitcoin any more than you're already doing, unless you want to avoid using a CBDC in the future. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Alex Carchidi has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. Here's How CBDC Fears Are Fueling Bitcoin's Surge was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
Cryptocurrency Mining Global Strategic Business Report 2025: Market to Reach $3.3 Billion by 2030 - Rising Crackdowns and Mining Bans in High-Consumption Jurisdictions Create Realignment Opportunities
The report delivers in-depth market insights, covering recent tariff developments and their impact on the industry. Despite regulatory uncertainties, mining plays a crucial role in the crypto ecosystem, driven by innovations in ASIC technology and sustainable practices. The report identifies global leaders, with the US now a mining hotspot following China's restrictions. It also explores how technological advancements and geographic strategies drive mining efficiency. Key trends, market projections, and competitive analyses are detailed, providing actionable insights into future opportunities. Cryptocurrency Mining Market Dublin, June 05, 2025 (GLOBE NEWSWIRE) -- The "Cryptocurrency Mining - Global Strategic Business Report" report has been added to global market for Cryptocurrency Mining was valued at US$2.2 Billion in 2024 and is projected to reach US$3.3 Billion by 2030, growing at a CAGR of 6.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. Recent volatility in token prices has prompted significant restructuring within the mining sector, with newer players exiting and established operators consolidating their infrastructure, negotiating energy contracts, and upgrading to next-generation mining rigs. The long-term appeal of mining lies in its role as a gateway to native crypto asset accumulation and its emerging integration with energy sector innovation, including load balancing, grid stabilization, and flare gas monetization. As institutions and sovereign entities explore Bitcoin reserves and CBDCs, mining continues to operate as both a decentralized economic incentive system and a geopolitical digital asset infrastructure. What Is Driving the Expansion and Diversification of the Cryptocurrency Mining Market?The growth in the cryptocurrency mining market is driven by expanding blockchain use cases, institutional adoption of crypto assets, and rising public awareness of decentralized finance. Mining continues to offer an accessible entry point into the digital asset economy, particularly for entities that seek exposure to Bitcoin without direct market purchases. The deflationary nature of Bitcoin, combined with finite issuance, makes mining a long-term accumulation strategy for bullish pressures and environmental critiques have accelerated the adoption of green mining practices, prompting innovation in energy sourcing, waste heat recovery, and emissions accounting. Regulatory clarity in key markets is enabling capital investment, IPOs, and cross-border equipment procurement - transforming mining from an opaque practice into a structured, compliance-driven as blockchain security becomes a matter of national interest, mining is being viewed through the lens of sovereignty and infrastructure resilience. Sovereign miners, state-backed facilities, and strategic reserves are becoming part of the broader digital asset policy toolkit. As energy markets, monetary systems, and cryptographic infrastructure converge, cryptocurrency mining is evolving into a strategically significant, energy-integrated sector poised for cyclical yet resilient Technological and Operational Advances Are Reshaping Mining Efficiency and Profitability?The rapid evolution of mining hardware - particularly application-specific integrated circuits (ASICs) - is driving higher hash rates per watt, improving mining economics and reducing breakeven costs. Top-tier machines such as Bitmain's Antminer series and MicroBT's WhatsMiner units are capable of delivering terahashes of processing power while maintaining optimized thermal profiles. Air-cooled, immersion-cooled, and liquid-cooled mining setups are now being widely adopted to manage energy-intensive operations and enhance unit and algorithmic optimization are increasingly used in mining fleet management for dynamic load adjustment, fault prediction, and real-time energy consumption analytics. Mining firmware solutions allow overclocking, undervolting, and automated workload balancing based on electricity pricing, hardware condition, and network difficulty. Some mining operations are deploying mobile containerized units, enabling rapid relocation to areas with surplus renewable energy or favorable regulatory the network side, mining pool decentralization, stratum v2 adoption, and transaction batching are improving efficiency and reducing orphan blocks. Integration with Layer 2 payment channels and smart contract blockchains is also expanding the application landscape of mining beyond Bitcoin - into altcoins like Litecoin, Monero, and Ethereum Classic, particularly after Ethereum's full migration to Are the Dominant Participants and How Are Geographies Shaping Mining Strategies?The mining ecosystem comprises publicly traded mining firms, private farms, mining pools, hardware manufacturers, and infrastructure hosting providers. Leading companies such as Marathon Digital, Riot Platforms, Bitfarms, and Hive Blockchain operate large-scale farms with institutional financing, vertically integrated power sourcing, and direct-to-market coin liquidity strategies. At the same time, decentralized individual miners and syndicate-based pools contribute to network resilience and hash rate the United States has emerged as the global leader in Bitcoin mining hash rate following China's 2021 crackdown. States such as Texas, Wyoming, and Georgia offer low-cost energy, favorable regulations, and stranded renewable capacity. Canada, Kazakhstan, Russia, Paraguay, and the UAE have also developed competitive mining sectors, leveraging climate, power access, or sovereign backing. Energy cost, regulatory risk, and infrastructure reliability remain the three decisive factors shaping mining location mining operators are co-locating with renewable energy plants, using curtailed wind or solar capacity to power off-grid mining hubs. Others are exploring demand response agreements with utilities to modulate power loads during grid stress. In emerging markets, mining is increasingly used as a monetization model for excess hydroelectric generation or flare gas capture, transforming waste energy into a cryptographic security Scope Key Insights: Market Growth: Understand the significant growth trajectory of the Small Miners segment, which is expected to reach US$1.9 Billion by 2030 with a CAGR of a 5.6%. The Large Miners segment is also set to grow at 9.0% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, valued at $592.3 Million in 2024, and China, forecasted to grow at an impressive 10.6% CAGR to reach $670.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific. Report Features: Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of players such as Argo Blockchain, Bitfarms, Bitfury, Bitmain Technologies Ltd., Canaan Creative Co., Ltd. and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments. Segments Mining Enterprises (Small Miners, Large Miners) Mining Type (Self-mining, Cloud Mining, Remote Hosting Services) Revenue Source (Block Rewards, Transaction Fees) Tariff Impact Analysis: Key Insights for 2025What's Included in This Edition: Tariff-adjusted market forecasts by region and segment Analysis of cost and supply chain implications by sourcing and trade exposure Strategic insights into geographic shifts Buyers receive a free July 2025 update with: Finalized tariff impacts and new trade agreement effects Updated projections reflecting global sourcing and cost shifts Expanded country-specific coverage across the industry Key Attributes: Report Attribute Details No. of Pages 276 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $2.2 Billion Forecasted Market Value (USD) by 2030 $3.3 Billion Compound Annual Growth Rate 6.9% Regions Covered Global Key Topics Covered: MARKET OVERVIEW Influencer Market Insights World Market Trajectories Impact of COVID-19 and a Looming Global Recession Cryptocurrency Mining - Global Key Competitors Percentage Market Share in 2025 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E) MARKET TRENDS & DRIVERS Surge in Institutional Investment and Token Market Maturity Drives Demand for Mining Infrastructure Expansion of Blockchain Protocols and DeFi Ecosystems Throws the Spotlight on Proof-of-Work Mining Growth in Hashrate and Mining Difficulty Spurs Innovation in ASIC and GPU Hardware Performance OEM Emphasis on Energy-Efficient Mining Rigs Strengthens Regulatory and Environmental Compliance Migration of Mining Operations to Renewable-Powered Sites Supports Sustainable Growth Models Rising Crackdowns and Mining Bans in High-Consumption Jurisdictions Create Market Realignment Opportunities Development of Modular, Mobile, and Containerized Mining Farms Enhances Scalability and Flexibility OEM Collaboration With Utility Providers Fuels Strategic Co-Location Near Power Generation Facilities Expansion of Mining-as-a-Service (MaaS) and Hosted Facilities Broadens Access for Retail Investors Volatility in Token Valuation and Transaction Fee Structures Drives Profitability Optimization Strategies OEM Integration of Immersion Cooling and Thermal Management Systems Extends Hardware Lifespan Shift Toward Layer-2 Protocols and Merged Mining Models Strengthens Multi-Chain Incentivization Regulatory Focus on KYC, AML, and Taxation of Mining Revenues Spurs Industry Formalization OEM Development of AI-Based Mining Optimization Software Enhances Yield per Megawatt Increased Use of Renewable Energy Credits and Carbon Offsets Supports ESG Reporting for Mining Firms Global Redistribution of Hashrate Post-Geopolitical Disruptions Creates Market Entrant Opportunities OEM Support for Decentralized Mining Pools and Non-Custodial Reward Mechanisms Fuels Miner Autonomy Demand for Data Center Conversion Into Crypto Mining Facilities Expands Use of Legacy IT Infrastructure Integration of Smart Contracts and Token Staking in Hybrid Models Challenges Pure Mining Profitability Adoption of Blockchain Analytics and Compliance Tools Strengthens Legal Standing for Mining Enterprises FOCUS ON SELECT PLAYERS:Some of the 48 companies featured in this report Argo Blockchain Bitfarms Bitfury Bitmain Technologies Ltd. Canaan Creative Co., Ltd. Cipher Mining CleanSpark Inc. Core Scientific Holding Co. DMG Blockchain Solutions Inc. Ebang International Holdings Inc. Galaxy Digital Holdings Ltd. Greenidge Generation Holdings Inc. Hive Blockchain Technologies Ltd. Hut 8 Mining Corp. Iris Energy Ltd. Marathon Digital Holdings, Inc. MicroBT Riot Platforms, Inc. Stronghold Digital Mining Inc. TeraWulf Inc. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Cryptocurrency Mining Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
