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The President of the Kyrgyz Republic signs a constitutional law to launch a pilot project for a national digital currency, the "digital som." The law grants the National Bank of the Kyrgyz Republic the exclusive right to issue, regulate, and oversee the digital currency's platform.
The Bank of Korea (BOK) is preparing to launch the second phase of its CBDC pilot, "Project Hangang," as early as October. The new phase will introduce person-to-person transfers and expand the use of digital vouchers for welfare payments, in addition to the existing merchant payments.
A study by De Nederlandsche Bank exploring the offline digital euro among 2,000 Dutch adults finds two-thirds are willing to use it. Participants treated it similarly to cash, preferring amounts under €500, but allocated more under payment uncertainty. The proposed €3,000 limit would not constrain most users. Unfamiliarity and perceived lack of added value hinder adoption for some.
Belarus is gearing up to introduce a CBDC, the digital form of the Belarusian ruble, by the second half of 2026. The country's central bank, the National Bank of the Republic of Belarus, is actively working on the CBDC's development and regulatory framework.
Circle announces the launch of Circle Payments Network (CPN). CPN aims to connect financial institutions and enable real-time settlement of cross-border payments using regulated stablecoins like USDC and EURC, addressing the pain points of the fragmented global payments system. CPN is expected to be released in a limited capacity in May.
Euroclear joins Project Ensemble, the wholesale CBDC initiative led by the Hong Kong Monetary Authority (HKMA). Euroclear will help develop interoperability standards between central bank money, tokenized deposits, and tokenized assets to support the growing tokenization market.
The Central Bank of the UAE (CBUAE) unveils a new symbol for the UAE's national currency, the Dirham, in both physical and digital forms. The CBUAE also announces progress on the issuance of the Digital Dirham, a CBDC, aimed at bolstering the UAE's position as a global financial hub.
An article by the NY Fed examines the interoperability of blockchain payment systems using a three-pillar framework of technical, legal, and economic factors. It finds limited interoperability in blockchain systems, as evidenced by divergent prices of stablecoins across different blockchain platforms. These lessons can inform the development of a new global payments architecture to achieve better interoperability.
The Central Bank of Brazil publishes a technical report on the first phase of its DREX digital currency pilot, highlighting the need for further investigation to ensure the platform meets privacy, data protection, and security requirements. The Central Bank opts to not include new cases in the second phase of the Drex Pilot at this time.
The Magyar Nemzeti Bank (MNB) publishes a whitepaper on their retail CBDC pilot project, Student Safe. The pilot aims to promote financial inclusion and digital literacy among 8-14 year olds, offering a free, secure digital payment solution, allowing users to manage electronic money accounts and make transactions. The central bank's suspension of the app's public operation in February 2025 is a temporary measure to assess the next steps.
The Bank of Israel completes a high-level design for its proposed digital shekel. The design document outlines the key features and architecture of the system, including plans for wide public access, interoperability, and enhanced privacy compared to existing digital payments. The Bank is now seeking public feedback.
The Bank of Papua New Guinea, in collaboration with Japan's METI and fintech company Soramitsu, successfully completes a Proof of Concept for the country's retail CBDC, the Digital Kina. The initiative aims to enhance payment systems and improve financial inclusion across Papua New Guinea.
Co-chaired by our Hubert Knapp, the Digital Euro Association's latest report delves into the role of open-source software (OSS) in CBDC development. The report highlights the benefits of OSS, including transparency, innovation, and cost efficiency, while also addressing challenges such as governance gaps, security vulnerabilities, and reputational risks.
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CBDC Consulting

WHAT WE DO

TECHNOLOGY
WHY CHAVANETTE ?
We are creating the Financial Services Infrastructure for the Next Generation.
Finance has never seen a technological transformation of this magnitude.
Chavanette Advisors speeds adoption of emerging technologies to help regulators and financial services providers solve complex challenges.

Strong Commitment to Financial Inclusion

Expertise in Digital Banking and Financial Infrastructure Technology

Global Delivery Capability
What We Do
SERVICES
CBDC Consulting Services
OFFERING VALUE AT THE VANGUARD OF CBDC IMPLEMENTATION
Advisory Services
ADVISORY FOR THE DIGITAL ECONOMY
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Alpha Knowledge Platform
The Alpha Knowledge Platform (αLP) is your ultimate resource and knowledge base for Central Bank Digital Currency (CBDC) and the financial technologies powering the Digital Economy.
Let αLP be your one-stop-shop for staying informed on CBDC progress, be the primary source for accessing key research papers and articles, and be your guide through this exciting once in a lifetime transformation of the financial ecosystem.
Central Banking 4.0 Studio
With the rapid development of CBDCs globally, effective design and
usability testing are crucial for ensuring implementation and
organizational readiness.
Central Banking 4.0 Studio allows you to build and test
prototypes for rapid CBDC design and usability testing. Designed specifically for central banks and
their key stakeholders in CBDC testing.
ADVANCING THE ADOPTION OF
DIGITAL CURRENCIES
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TRUST • INTEGRITY • DELIVERY
Chavanette Advisors specialises in the creation and deployment of future-focused technological solutions.
We provide expert advice and project management to financial services and enterprise clients globally, engaging disruptive technologies that are transforming their operations and industries.
We help clients leverage emerging technology to solve complex business and technology problems, drive innovation, and produce market-leading products and services.
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NEWSBLOG

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