Saudi Aramaco subsidiary Aramco Trading Company joins firms like BP and Shell in using Vakt’s settlement platform for North Sea crude oil. Vakt plans to expand its platform to other oil markets.
The World Economic Forum has established a global consortium focused on creating a framework for the governance of digital currencies, including government-backed stablecoins pegged to an underlying asset, such as the yen, euro or the U.S. dollar.
Japanese lawmakers are working on a proposal for the country to issue its own digital currency, according to a report in Reuters Friday. A digital yen could be a collaboration between the government and private companies, a key lawmaker in the country told Reuters Thursday.
The Bank for International Settlements, a consortium of banks based in Basel, Switzerland, polled 66 central banks last year. The results? One fifth of the world's population will use central bank digital currencies by 2023. CBDCs are a new type of digital money. They can be used for interbank settlements or as a type of general purpose “digital cash,” meant as a stand in for regular bank notes.