Digitaldollar FederalReserve NewYorkFed CBDC New York Fed completes the first phase of tests on a U.S. dollar CBDC
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
Unlike retail CBDCs, wholesale CBDCs are primarily used by financial institutions and international banks. According to the NYIC, the experiment demonstrated that wholesale cross-border digital currency transactions supported by blockchain technology can deliver fast and safe payments. The test successfully cleared payments at near-instantaneous speeds between a digitized dollar and eight experimental currencies run on separate blockchains. Due to the fact that foreign exchange spot transactions often involve multiple counterparties, the project decided to use multiple ledgers for transactions as opposed to a single ledger with multiple nodes.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bono opens book tour before adoring fans at New York theatreBono opened his book tour Wednesday night in what he called a \u0022transgressive\u0022 mood.
Read more »
Man claims he found Jesus in his curryA New York man believes he found Jesus in his curry.
Read more »
Glavin: Dominic Barton and McKinsey have been China's best friends in CanadaA new book by two New York Times reporters casts the company — and Canada\u0027s former ambassador to China —in a new light.
Read more »
Moncton zoo wins award for new squirrel monkey habitat - New Brunswick | Globalnews.caMonkey business is serious business at the Magnetic Hill Zoo, where it's just won the Thomas R. Baines award for Excellence in Habitat Design and Development.
Read more »
New Brunswick residents sound alarm over increased tax rates - New Brunswick | Globalnews.caResidents say that the province hasn't clearly communicated what it's doing with Local Service Districts, and they haven't listened to their concerns.
Read more »