Kiffmeister’s FinTech Daily Digest (05/27/2020)

I’ve updated my retail central bank digital currency (CBDC) explorer tabulation. China has now been “upgraded” to pilot status, and Ecuador has been “downgraded” to a less active status.

TON Doesn’t Stand for ‘Telegram Open Network’ Anymore
TON once stood for “Telegram Open Network,” but has changed its name to reflect the messaging giant’s departure from the blockchain project. The project will simply be known as “The Open Network” going forward. Telegram officially terminated its involvement in Telegram Open Network in mid-May 2020. Although Telegram’s version of TON is no longer moving forward, it has given rise to other projects like Free TON and NewTON.

How WeChat Pay Determines If You Are Trustworthy With Their Credit Score
China’s WeChat Pay has told its users that it will be giving them a credit rating, called “Payment Points.” The system leverages artificial intelligence and uses users’ data collected from the platform including personal and credit records, spending habits and other factors to determine a user’s “credibility.” Tencent hopes the system will be adopted by small commercial institutions including banks for personal credit evaluation.

Coinbase Expands Institutional Services With Tagomi Purchase
Coinbase has announced plans to acquire Tagomi, an advanced crypto-asset brokerage platform specifically targeted at professionals and institutional investors. Tagomi’s platform is able to automate crypto trades valued at millions of dollars that many other firms still execute manually. Customers include family offices and crypto funds such as Pantera Capital, Bitwise and Multicoin Capital.

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