Digital rupee gets big usability boost through Yes Bank integration with UPI
The Reserve Bank of India (RBI) central bank digital currency (CBDC), the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s integration of the Unified Payments Interface (UPI) with the RBI digital rupee app. Now Yes Bank account holders w ...
RBI lists risks of stablecoins for developing economies, calls for global regulation
Stablecoins have a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six threats that stablecoins present.The RBI has been a steadfast critic of cryptocur ...
RBI Expands Retail Digital Rupee Testing Pilot to Include More Banks and Cities
The Reserve Bank of India (RBI) said it is expanding its retail digital rupee testing pilot to include more banks and expand the list of cities. The central bank said in an annual report that it has been testing its own digital currency (CBDC) in stages. In November 2022 ...
RBI and Central Bank of UAE partner for cross-border transfers using government stablecoins
The Reserve Bank of India (RBI) and the Central Bank of the United Arab Emirates have recently agreed to collaborate in the realm of cross-border money transfers, utilizing stablecoins backed by their respective governments. The central banks plan to conduct proof of concept (PoC) trials for paym ...