MasterCard, Citigroup and Other Global Banking Giants Start Digital Dollar Pilot With New York Federal Reserve

Global financial services giants such as MasterCard, Citigroup, and others are joining hands with the Federal Reserve Bank of New York to start a 12-week-long pilot for a digital dollar system. The pilot dubbed the "regulated liability network," will be conducted in a test environment using simulated data, Reuters reported. Besides MasterCard and Citigroup, the major global banks HSBC and Wells Fargo are also involved in the pilot project....