In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 million boost. Plus, Affirm files for an IPO.
The Federal Reserve is collaborating with seven central banks and the Bank for International Settlements (BIS) to hammer out a framework for digital currency. However, Jon Cunliffe, deputy governor at the Bank of England (BoE) said that he did not think any single approach to a central bank digital currency (CBDC) would end up dominating.
Amazon India Gets $95.5M For Month-Long Festive Season
Amazon India got an infusion of 7 billion rupees ($95.51 million) in advance of the upcoming festive season, which kicks off with sales on Saturday, Oct. 17, ahead of Hindu festivals Dussehra and Diwali.