Which CBDC will launch first in 2022? – Yahoo Finance

Kevin Heal and Stephen Bigger break down potential benefits of rate hikes on financial stocks Wed, March 9 at 2 p.m. ET.
In an ever-increasing digital world, countries are now taking the step to digitise their monetary ecosystem with the creation of a Central Bank Digital Currency (CBDC).
A CBDC is a country’s fiat currency in the form of a digital asset, and would be controlled by the nation’s monetary authority – its central bank, for example.
Across the world, only two nations currently use a CBDC, with the Bahamas’ ‘Sand Dollar’ launching in 2020 and Nigeria’s ‘e-Naira’ in October of this year.
Despite just two countries having a CBDC in place, many others had either begun research on one or are in the final stages of rolling it out ready for the year ahead
China seems to be ahead of the pack with plans to release its ‘e-CNY’ digital currency by February.
The People’s Bank of China (PBOC) announced the news in September, and pilot testing of the digital currency had already taken place in cities such as Shenzhen, Shanghai, Hainan, Changsha and, Dalian.
The e-CNY can be used to purchase goods online and offline, as well as pay electricity bills, tolls, and transport fares, according to the PBOC.
China’s history with cryptocurrency is well documented and pilot testing of the CBDC showed how widely used it was by Chinese citizens with the e-CNY used to conduct 62 billion yuan ($9.7 billion) of transactions by the end of October 2021.
One of the leading nations in Bitcoin mining, Kazakhstan has completed a prototype of a digital tenge platform and will decide whether to fully launch its CBDC by the end of 2022.
A pilot CBDC project is in preparation, according to Erbolat Dossayev, governor of the National Bank of Kazakhstan, with local financial companies and some international partners to be involved in the pilot testing.
The central Asian nation had attempted the centralisation of cryptocurrency earlier this year and its potential CBDC will give the government more control in the regulation of financial transactions.
Similar to Kazakhstan, a pilot testing of Russia’s digital ruble will launch in early 2022.
Bank of Russia Governor Elvira Nabiullina confirmed the news last month, and said the pilot program would decide whether the digital ruble will be launched or scrapped.
There has been criticism of the digital ruble with concerns over fraudsters and hackers being able to access the blockchain-based currency.
The Central Bank of Brazil (BCB) announced plans to start a pilot program of a digital currency this year with 2024 earmarked as the year the final version of a ‘digital real’ will be launched.
Brazil may be behind its competitors in being the first to launch its CBDC in the upcoming year, but they may be the most likely to officially launch it due to the nation’s acceptance of cryptocurrency and the digital economy.
According to the BCB, Brazilians have acquired $4.27 billion in cryptocurrencies so far in 2021.
Clover Health Investments stock has tumbled this year. Clinton paid $252,530 on March 3 for 100,000 Clover Health shares, a per-share average price of $2.53, according to a form she filed with the Securities and Exchange Commission. Shares acquired now represent her stock holdings in the company.
Elon Musk is not a CEO like the others, like to say his critics and his admirers. More than a week after the beginning of the invasion of Ukraine by Russia, the billionaire has just proven that he is definitely a CEO in his own right, who does not play in the same court as his peers. If a large number of companies have announced to suspend or stop their activities or their services in Russia, their leaders have not personally taken a position in this Russian war.
The major indexes are nearing February lows as the Ukraine invasion continues. Vertex leads five stocks holding up.
(Bloomberg) — Berkshire Hathaway Inc., the conglomerate run by billionaire Warren Buffett, boosted its investment in energy giant Occidental Petroleum Corp. as oil prices hit their highest level in almost a decade.Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Energy Chaos Triggers the Biggest Market Shock in DecadesPutin Seeks to
(Bloomberg) — Senator Elizabeth Warren, a vocal critic of Wall Street, said banks are “undermining” sanctions on Russia by snapping up the nation’s corporate bonds and suggesting clients buy assets on the cheap. Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Energy Chaos Triggers the Biggest Market Shock in DecadesPutin Seeks to Av
Capping one of the worst weeks of its life as a stock, Sea Limited's (NYSE: SE) share price took a more than 11% hit on Friday. The latest blow was a recommendation downgrade and a deep price target cut from an analyst at a high-profile investment bank. Joining a clutch of fellow prognosticators trimming their expectations for Sea Limited stock was Ranjan Sharma, of JPMorgan Chase unit J.P. Morgan.
SmartAsset compares three of the largest investment companies based on usability, trade experience, offerings and cost. Learn more here.
As the world emerges from the pandemic, tech companies have been put in a tough spot. Broadcom (AVGO), a key chip provider to cloud players, said its April- quarter results would accelerate from 16% growth in the January quarter.
The best shareholders love dividend stocks —and anyone concerned about the current global financial market turmoil should consider them. Dividend stocks give shareholders regular cash payouts year after year. For investors, cash dividends put money in your pocket.
Shares of e-commerce giant Alibaba are down 57% in the past year and trade for a third of their 2020 high.
(Bloomberg) — U.K. Prime Minister Boris Johnson said diplomatic efforts in lead up to Russia’s invasion of Ukraine had stood no chance, and that President Vladimir Putin’s war was now “sinking further into a sordid campaign of war crimes and unthinkable violence against civilians.”Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Ener
Foley stepped down as CEO less than a month ago. He closed on this mansion in December.
Here's a glimmer of hope for S&P 500 investors: Markets are actually up from the year's low. And better yet, analysts see more upside.
In SoFi Technologies' (NASDAQ: SOFI) most recent earnings call, CFO Chris Lapointe said the company's online brokerage would soon roll out options trading, which will give investors the right to buy or sell a stock at a certain price by a certain date. Because of that diversity of offerings, it might not seem like it, but this feature within the SoFi Invest brokerage could be a big deal.
It's not news that Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE) are the undisputed winners of the race to develop and commercialize a coronavirus vaccine. Pfizer expects to make around $32 billion this year from sales of Comirnaty, whereas Moderna expects roughly $19 billion from sales of Spikevax. As great as the jabs from Pfizer and Moderna are at preventing severe disease, they falter when it comes to preventing people from falling ill and being able to infect others.
(Bloomberg) — Short sellers were right when they bet against Russia. Whether they’ll collect their winnings of more than $723 million is another matter. Most Read from BloombergUkraine Update: UN Council to Meet, Safety Corridors Set UpRussian Forces Occupy Site of Nuclear Plant as Fire ContainedUkraine Update: Russian Troops Occupy Nuclear Plant SiteWhite House Weighs Ban on Russian Oil Imports as Congress FumesPutin’s Financial Isolation by World’s Powerful Is a Cautionary Tale for Xi Jinping
(Bloomberg) — Shell Plc, Europe’s largest oil company, bought a cargo of Russia’s flagship crude at a record discount, underscoring the company’s decision to keep buying supplies from the country after its invasion of Ukraine.Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Energy Chaos Triggers the Biggest Market Shock in DecadesPut
The Euro has gotten absolutely crushed during the trading session on Friday as the jobs report in America came out strong, suggesting that the Federal Reserve is going to have to remain aggressive.
The idea of paying $5 a gallon for gas scares most Americans — at least the ones who don't live in California, where AAA reports that the price per gallon for gas currently sits at $5.07. "Because the cost of crude oil accounts for about 52% of retail gasoline's final cost, the price of gasoline generally follows movements in crude oil prices, which followed a similar price path during 2019." Crude oil prices have, of course, been rising and they could climb even higher due to Russia's invasion of Ukraine.
C3.ai shares are taking a beating Friday, pressured by a negative research note from Deutsche Bank analyst Patrick Colville, who cut his rating on the stock to Sell from Hold, with a new price target of $18, down from $36. A provider of artificial intelligence software applications for enterprise customers, C3.ai (ticker: AI) posted financial results earlier this week that were generally well received. For the January quarter, the company posted revenue of $69.8 million, up 42% from a year ago, and ahead of both the company’s outlook range of $66 million to $68 million, and the Street consensus projection for $66.8 million.

source

Kevin Heal and Stephen Bigger break down potential benefits of rate hikes on financial stocks Wed, March 9 at 2 p.m. ET.
In an ever-increasing digital world, countries are now taking the step to digitise their monetary ecosystem with the creation of a Central Bank Digital Currency (CBDC).
A CBDC is a country’s fiat currency in the form of a digital asset, and would be controlled by the nation’s monetary authority – its central bank, for example.
Across the world, only two nations currently use a CBDC, with the Bahamas’ ‘Sand Dollar’ launching in 2020 and Nigeria’s ‘e-Naira’ in October of this year.
Despite just two countries having a CBDC in place, many others had either begun research on one or are in the final stages of rolling it out ready for the year ahead
China seems to be ahead of the pack with plans to release its ‘e-CNY’ digital currency by February.
The People’s Bank of China (PBOC) announced the news in September, and pilot testing of the digital currency had already taken place in cities such as Shenzhen, Shanghai, Hainan, Changsha and, Dalian.
The e-CNY can be used to purchase goods online and offline, as well as pay electricity bills, tolls, and transport fares, according to the PBOC.
China’s history with cryptocurrency is well documented and pilot testing of the CBDC showed how widely used it was by Chinese citizens with the e-CNY used to conduct 62 billion yuan ($9.7 billion) of transactions by the end of October 2021.
One of the leading nations in Bitcoin mining, Kazakhstan has completed a prototype of a digital tenge platform and will decide whether to fully launch its CBDC by the end of 2022.
A pilot CBDC project is in preparation, according to Erbolat Dossayev, governor of the National Bank of Kazakhstan, with local financial companies and some international partners to be involved in the pilot testing.
The central Asian nation had attempted the centralisation of cryptocurrency earlier this year and its potential CBDC will give the government more control in the regulation of financial transactions.
Similar to Kazakhstan, a pilot testing of Russia’s digital ruble will launch in early 2022.
Bank of Russia Governor Elvira Nabiullina confirmed the news last month, and said the pilot program would decide whether the digital ruble will be launched or scrapped.
There has been criticism of the digital ruble with concerns over fraudsters and hackers being able to access the blockchain-based currency.
The Central Bank of Brazil (BCB) announced plans to start a pilot program of a digital currency this year with 2024 earmarked as the year the final version of a ‘digital real’ will be launched.
Brazil may be behind its competitors in being the first to launch its CBDC in the upcoming year, but they may be the most likely to officially launch it due to the nation’s acceptance of cryptocurrency and the digital economy.
According to the BCB, Brazilians have acquired $4.27 billion in cryptocurrencies so far in 2021.
Clover Health Investments stock has tumbled this year. Clinton paid $252,530 on March 3 for 100,000 Clover Health shares, a per-share average price of $2.53, according to a form she filed with the Securities and Exchange Commission. Shares acquired now represent her stock holdings in the company.
Elon Musk is not a CEO like the others, like to say his critics and his admirers. More than a week after the beginning of the invasion of Ukraine by Russia, the billionaire has just proven that he is definitely a CEO in his own right, who does not play in the same court as his peers. If a large number of companies have announced to suspend or stop their activities or their services in Russia, their leaders have not personally taken a position in this Russian war.
The major indexes are nearing February lows as the Ukraine invasion continues. Vertex leads five stocks holding up.
(Bloomberg) — Berkshire Hathaway Inc., the conglomerate run by billionaire Warren Buffett, boosted its investment in energy giant Occidental Petroleum Corp. as oil prices hit their highest level in almost a decade.Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Energy Chaos Triggers the Biggest Market Shock in DecadesPutin Seeks to
(Bloomberg) — Senator Elizabeth Warren, a vocal critic of Wall Street, said banks are “undermining” sanctions on Russia by snapping up the nation’s corporate bonds and suggesting clients buy assets on the cheap. Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Energy Chaos Triggers the Biggest Market Shock in DecadesPutin Seeks to Av
Capping one of the worst weeks of its life as a stock, Sea Limited's (NYSE: SE) share price took a more than 11% hit on Friday. The latest blow was a recommendation downgrade and a deep price target cut from an analyst at a high-profile investment bank. Joining a clutch of fellow prognosticators trimming their expectations for Sea Limited stock was Ranjan Sharma, of JPMorgan Chase unit J.P. Morgan.
SmartAsset compares three of the largest investment companies based on usability, trade experience, offerings and cost. Learn more here.
As the world emerges from the pandemic, tech companies have been put in a tough spot. Broadcom (AVGO), a key chip provider to cloud players, said its April- quarter results would accelerate from 16% growth in the January quarter.
The best shareholders love dividend stocks —and anyone concerned about the current global financial market turmoil should consider them. Dividend stocks give shareholders regular cash payouts year after year. For investors, cash dividends put money in your pocket.
Shares of e-commerce giant Alibaba are down 57% in the past year and trade for a third of their 2020 high.
(Bloomberg) — U.K. Prime Minister Boris Johnson said diplomatic efforts in lead up to Russia’s invasion of Ukraine had stood no chance, and that President Vladimir Putin’s war was now “sinking further into a sordid campaign of war crimes and unthinkable violence against civilians.”Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Ener
Foley stepped down as CEO less than a month ago. He closed on this mansion in December.
Here's a glimmer of hope for S&P 500 investors: Markets are actually up from the year's low. And better yet, analysts see more upside.
In SoFi Technologies' (NASDAQ: SOFI) most recent earnings call, CFO Chris Lapointe said the company's online brokerage would soon roll out options trading, which will give investors the right to buy or sell a stock at a certain price by a certain date. Because of that diversity of offerings, it might not seem like it, but this feature within the SoFi Invest brokerage could be a big deal.
It's not news that Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE) are the undisputed winners of the race to develop and commercialize a coronavirus vaccine. Pfizer expects to make around $32 billion this year from sales of Comirnaty, whereas Moderna expects roughly $19 billion from sales of Spikevax. As great as the jabs from Pfizer and Moderna are at preventing severe disease, they falter when it comes to preventing people from falling ill and being able to infect others.
(Bloomberg) — Short sellers were right when they bet against Russia. Whether they’ll collect their winnings of more than $723 million is another matter. Most Read from BloombergUkraine Update: UN Council to Meet, Safety Corridors Set UpRussian Forces Occupy Site of Nuclear Plant as Fire ContainedUkraine Update: Russian Troops Occupy Nuclear Plant SiteWhite House Weighs Ban on Russian Oil Imports as Congress FumesPutin’s Financial Isolation by World’s Powerful Is a Cautionary Tale for Xi Jinping
(Bloomberg) — Shell Plc, Europe’s largest oil company, bought a cargo of Russia’s flagship crude at a record discount, underscoring the company’s decision to keep buying supplies from the country after its invasion of Ukraine.Most Read from BloombergUkraine Update: U.K. Premier Says More Pressure Needed on PutinPutin Warns Ukraine as Safe-Passage Plans Descend Into ChaosUkraine Update: UN Council to Meet, Safety Corridors Set UpRussia Energy Chaos Triggers the Biggest Market Shock in DecadesPut
The Euro has gotten absolutely crushed during the trading session on Friday as the jobs report in America came out strong, suggesting that the Federal Reserve is going to have to remain aggressive.
The idea of paying $5 a gallon for gas scares most Americans — at least the ones who don't live in California, where AAA reports that the price per gallon for gas currently sits at $5.07. "Because the cost of crude oil accounts for about 52% of retail gasoline's final cost, the price of gasoline generally follows movements in crude oil prices, which followed a similar price path during 2019." Crude oil prices have, of course, been rising and they could climb even higher due to Russia's invasion of Ukraine.
C3.ai shares are taking a beating Friday, pressured by a negative research note from Deutsche Bank analyst Patrick Colville, who cut his rating on the stock to Sell from Hold, with a new price target of $18, down from $36. A provider of artificial intelligence software applications for enterprise customers, C3.ai (ticker: AI) posted financial results earlier this week that were generally well received. For the January quarter, the company posted revenue of $69.8 million, up 42% from a year ago, and ahead of both the company’s outlook range of $66 million to $68 million, and the Street consensus projection for $66.8 million.

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