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Facebook’s ‘stablecoin’ punt raises questions for regulators
The best way to understand [where Facebook’s stablecoin fit in the grand scheme of things] is to look at an admirably punchy speech that Tobias Adrian, head of the markets division at the IMF, recently gave to a meeting of central bankers in Zurich.
tags: Fintech CryptoAssets
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Should Central Banks Issue Digital Currency?
Philadelphia Fed researchers find that a central bank digital currency might promote efficiency in exchange, but could raise bank funding costs. However, by appropriately choosing the interest rate it pays on CBDC, the central bank can balance these competing concerns.
tags: Fintech CryptoAssets CBDC
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Monzo launches in the US to take on America’s financial giants
Monzo says it will initially offer a “few thousands cards” to American customers at launch events in Los Angeles. The company has selected LA as its initial U.S. base, and is looking to expand to other cities. It will find itself up against American financial titans from J.P. Morgan to Bank of America.
tags: Fintech
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Putting Bakkt’s Bitcoin Futures to the Test
The Intercontinental Exchange’s pending bitcoin platform Bakkt plans to begin testing its two futures contracts on July 22 of this year.
tags: Fintech CryptoAssets Bakkt
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Circle Pay shuts down – FinTech Futures
The Circle Pay mobile and web apps will shut down on 8 July 2019, as Circle focuses on open blockchain technology and fiat tokens and stablecoins such as USD Coin (USDC).
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Circle, the company behind USDC, has announced it will allow other institutions to issue and redeem the dollar-pegged stablecoin. Until now, Coinbase and Circle have been the only platforms where users can redeem their USDC, having been the sole members of the CENTRE network
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Circle and Coinbase Open CENTRE Cross Border Stablecoin Network
Blockchains may proliferate and compete across many different use cases, they would benefit from a common interoperable fiat stablecoin for major currencies that is anchored in a full reserve, transparent and compliant governance scheme.
tags: CrossBorder Fintech Blockchain
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Steampunk Settlement: Deploying Futuristic Technology to Achieve an Anachronistic Result
In Greenwich Associates’ “Steampunk Settlement: Deploying Futuristic Technology to Achieve an Anachronistic Result” they discuss the medieval results that come from the expensive deployment of futuristic technology, and challenge the idea that DLT could replace today’s clearance and settlement infrastructure.
tags: Blockchain Plumbing Fintech
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Assignats: The First Tokenization Transactions?
Assignats were paper money backed by confiscated church properties and land, issued by the Constituent Assembly in France from 1789 to 1796, during the French Revolution.
tags: Fintech CryptoAssets Tokenization ICOs
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The stablecoin market is booming
Binance’s Evolution of Stablecoins report finds that stablecoins are eating into the dominance of Bitcoin and Ethereum pairs, and have grown to represent 60% of traded volume, most of it in Tether.
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IBM, Hyperledger Blockchain ID System for Banks Launches in Brazil
CIP, a facilitator of Brazilian banking and financial infrastructure, has officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric.
tags: Fintech Blockchain Identity
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Why Stablecoins Stand Out in the Cryptocurrency World
The use of stablecoins for real-world purposes other than trading remains far off, some analysts and investors say, due to a lack of financial networks that can accept and use cryptocurrencies.
Kiffmeister’s Fintech Daily Digest 06/13/2019
