The Board of Directors of the Bank for International Settlements (BIS) on Sunday appointed Benoît Cœuré as Head of the new BIS Innovation Hub, set up to foster international collaboration among central banks on innovative financial technology.
ICE subsidiary Bakkt will provide custody services for institutional clients. Pantera Capital, Galaxy Digital and Tagomi have already signed on as initial customers for Bakkt Warehouse.
The Monetary Authority of Singapore has partnered with JP Morgan Chase and state-owned investment firm Temasek to build a blockchain-based prototype multi-currency payments network. This a part of the existing Project Ubin and will be developed as its fifth phase allowing other blockchains to connect and integrate seamlessly. The platform will also offer features including delivery-versus-payment settlement with private exchanges, conditional payments and escrow for trade, as well as payment commitments for trade finance.
Canadian blockchain research firm Blockchain Venture Capital (https://www.bvcadt.com
) launched a U.S. dollar-pegged/backed stablecoin, the CUSD, coming four months after the firm launched the Canadian dollar-pegged CADT.
“In previous blog posts, we’ve discussed the potential of a secure, reliable system of digital identification (digital ID), and examined some of the potential roadblocks to the widespread adoption of digital ID, but it’s also worth considering what such a system would look like. What characteristics would define a truly effective system? What role would various stakeholders play? How would it interact with more “traditional” forms of identification?”
Wirex is launching their Wirex Visa Travelcard that will enable customers to spend multiple crypto and fiat currencies across APAC.
Mastercard launched Fintech Express. Rapyd, a B2B Fintech-as-a-Service provider, is the first partner in the program. The Fintech Express program can quickly onboard partners and provides immediate access to a cross-functional team of experts to support multiple work streams.
Welcome to China. You Probably Can’t Buy Anything, Though. Foreign tourists in China looking to buy a bottle of water or a taxi ride with cash or credit card are finding themselves out of luck.
The Association for Financial Markets in Europe has released a new paper which highlights the minimal use of the cloud among capital markets firms – with over two-thirds of AFME members questioned estimating that only 1 – 10% of their bank’s current workload was using some level of public cloud.
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The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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