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“[A central bank digital currency] could take a variety of forms, the benefits and costs of which the ECB and other central banks are currently investigating, being mindful of their broader consequences on financial intermediation.”
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Exchanges remain the most popular choice for cryptoasset storage amongst Binance’s institutional and VIP clients at 92.1%. When moving to self-storage, cold wallets are the second most favored choice, given their improved safety and control. Third-party custody services were the least popular option at 2.6%.
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Bakkt has a partnership with Starbucks and it will be launching its mass consumer-facing product next year. Starbucks is one of the merchants that it is working with, to reduce payments and allow consumers to more easily spend digital assets. Bakkt wants to make payments faster, cheaper, and more global.
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Bank of New York Mellon has joined the Marco Polo trade finance consortium running on R3’s Corda, becoming the 28th bank to do so.
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The Reserve Bank of India announced fresh steps to push digital payments in India, including removing charges on online fund transfer system National Electronic Funds Transfer, introducing interoperable system such that FASTags can be used to pay parking fees, fuel, among other measures.tags: Fintech PaymentSystems
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MoneyGram will use Ripple’s On-Demand Liquidity (ODL) solution in Australia, Europe and other important markets.
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The Monetary Authority of Singapore is working with financial industry partners to create a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics.
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South Korea’s National Assembly is progressing a bill that will provide a legal basis for cryptocurrencies in the country. The bill categorizes virtual currencies as digital assets and intends to bring regulatory clarity and transparency to crypto markets in South Korea.
Kiffmeister’s Fintech Daily Digest 11/26/2019
