-
The People’s Bank of China will reportedly start small-scale testing its digital currency (CBDC) in Shenzhen this month (December). The test will be performed in a “horse race” model, with each of four participating banks proposing a different payment model. While some of the banks chose to collaborate with the three telecom firms participating in the pilot to develop SIM cards with built-in digital wallets, others have built their independent wallet apps. Suzhou may test the new currency as well.
-
Under the PBOC DC/EP CBDC model, commercial banks will first obtain the digital currency from the PBOC by depositing RMB reserves. Users and businesses can then register digital wallets with these commercial banks to use the new digital currency, according to an online course on Libra and cryptocurrency given by PBOC’s digital currency director Mu Changchun.
-
The Financial Stability Board published two reports that consider the financial stability implications from an increasing offering of financial services by BigTech firms, and the adoption of cloud computing and data services across a range of functions at financial institutions.
-
Thailand and Hong Kong have launched Project LionRock-Inthanon, a collaboration to use wholesale CBDC to facilite real-time cross-border payments between banks in the two countries.
-
Three months after launching its physically settled bitcoin futures product, the Intercontinental Exchange’s Bakkt has gone live with its bitcoin options and cash-settled futures contracts.
-
Cryptocurrency exchange OKEx is launching bitcoin options trading later this month.
-
We’ve often argued that a stablecoin is nothing more than a glorified exchange traded fund (ETF). So when it comes to the fuss about how to regulate stablecoins like Libra, is it possible that most of the hard work has already been done on account of the regulatory environment that governs ETFs?
-
The world‘s first blockchain-based digital collector coin created by the Bank of Lithuania is dedicated to the 16 February 1918 Act of Independence of Lithuania and its 20 signatories. The coin is expected to be issued in spring 2020.tags: Fintech CryptoAssets
-
Bank of China, one of the four primary commercial banks in China, has issued 20 billion yuan or around $2.8 billion in blockchain-based bonds for small businesses with their own blockchain platforms.tags: Fintech Blockchain
-
Ukraine’s legislature, has approved amendments that introduce legal terms and definitions pertaining to the crypto space. The new legislation, which aims to transpose the FATF standards into national law, also identifies who is to take responsibility for the oversight of cryptocurrencies in the country.
-
The Indonesian Fintech Lenders Association has partnered with the Financial Services Authority (OJK) to open a Fintech Data Centre to review the P2P lending industry. (November)