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There are at least 45 central banks looking into issuing digital currency (CBDC).
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The ECB’s Benoît Coeuré will chair a meeting on September 16 at the BIS headquarters in Basel between Libra and the Committee on Payments and Market Infrastructure. The CPMI side will be represented by officials from 26 central banks, including the Federal Reserve and the Bank of England.
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ECB board member Benoit Coeure said Libra has revived efforts to widen the uptake of the ECB-backed TIPs fast cash project, and that the ECB needs to step up its thinking on a central bank digital currency.
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The Ethereum network has become congested with users complaining transactions are taking hours or in some rare instances, even days, and the culprit appears to be Tether.
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The JPMorgan Chase-led Interbank Information Network (IIN) will this week announce Deutsche as a new recruit to a network of 320 banks which have agreed to swap information on global payments over blockchain, the mutually distributed ledger technology behind cryptocurrencies.
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“The ICE/Bakkt initiative will prove to be a fascinating case study in inter-exchange competition. Crypto is sufficiently distinctive, and the double-barrel ICE initiative sufficiently innovative, that the traditional betting form (go with the incumbent) could well fail.”
Kiffmeister’s Fintech Daily Digest 09/15/2019
