The Reserve Bank of India noted that the results of the digital rupee pilots have been up to their expectations and that they have satisfied the requirements.
There are a total of two CBDC test projects which study the retail and wholesale implementations of the digital rupee.
On the flip side, another notable project in the DeFi space is Tradecurve, which enables anyone to access the Web3 trading space without the need to complete KYC, providing a truly borderless experience.
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India’s Current Progress with its CBDCs
India's central bank has two ongoing Central Bank Digital Currency test projects and has now introduced a range of use cases and features for the pilots that will take place throughout the next financial year. The Reserve Bank originally launched the digital rupee, or e-Rupee pilots, last year. There are now plans to expand this pilot, bringing in a large number of participating banks, based on the annual report published by the company on May 30, 2023.
The wholesale CBDC test commenced in November of 2023, and the idea was to facilitate settlement on secondary market transactions, in government securities, through the usage of the digital rupee.
Nine banks in total participated throughout this first stage. The retail pilot, however, began in December 2023 with the objective of using the digital rupee as a stand-in for physical currency notes. The central bank announced that eight banks were already involved with the retail pilot, with five more in the procedure of joining.
Why Tradecurve Can Spike 100x At Launch
While India is getting ahead in regards to launching a CBDC, there are still a lot of countries and areas in the world where people do not have access to or the ability to trade specific products such as US and European equity CFDs, Forex, Indices, Commodities, Cryptocurrencies, Options, ETFs, and Bonds.
Tradecurve is a platform that offers an all-in-one solution and combines the best elements of CEXs and DEXs to provide truly borderless access to these asset classes and to cryptocurrencies to anyone, from anywhere, without the need to undergo a KYC procedure.
On top of Tradecurve, users get access to high leverage, can create custom AI-powered bots, can engage through a VIP account system, get negative balance protection, and newcomers can use the Trading Academy to learn everything they need to know without even making the first trade.
TCRV is the native token used to power the platform and now trades at $0.015 during Stage 3 of its presale. The presale has resulted in the sale of over 13,021,273 in Stage 3 so far, and at Stage 4, its price will increase to $0.018, or by 20%.
The team plans on onboarding 100,000 new users during the first three months of operation and will implement Proof of Reserves (PoR). Based on all of this, it is estimated by analysts that TCRV can climb 100x at launch.
To find out more about Tradecurve, please visit the Tradecurve site or the links below:
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