Kiffmeister’s #Fintech Daily Digest (12/07/2020)

Bittrex Global Launches Tokenized Stock Trading

Bermuda-based Bittrex Global will be listing tokenized stocks on its digital asset exchange in cooperation with DigitalAssets.AG. This product will allow traders and investors direct access to listed companies without having to use an external broker or pay additional fees. Shares can be purchased using either US dollars (USD), Tether (USDT) or Bitcoin (BTC), twenty-four hours a day, seven days a week. The tokenized stocks available through Bittrex Global will allow customers to purchase a fraction of a stock without needing to purchase entire shares. 

StanChart completes blockchain bond project in Philippines

A blockchain proof of concept for the digital issuance of retail bonds in the Philippines has been successfully completed by Standard Chartered. The global bank partnered with Union Bank of Philippines (UB) for the project which involved a 3 and 5.25 dual tranche issuance totalling PHP9bn ($187m) being successfully mirrored on the platform created by UB and SC Ventures, the innovation arm of the Standard Chartered. 

Ukraine’s Draft Crypto Bill Passes First Parliamentary Hearing

Ukraine’s Draft Bill on Virtual Assets had a successful first hearing in the nation’s parliament, and after two more hearings could become law. The bill defines virtual assets as “a set of data in electronic form,” which “can be an independent object of civil transactions, as well as certify property or non-property rights.” The law suggests not considering virtual assets as legal tender in Ukraine. The ownership of virtual assets is considered as being the entity holding the private keys, unless they are held with a custodian, forfeited by the court decision or acquired illegally. Virtual assets would be regulated by Ukraine’s Ministry of the Digital Transformation, and crypto service providers must register to be able to operate in the nation. 

Comienza a operar Pagos con Transferencia

It looks like Banco Central de la República Argentina launched a retail QR code-based instant payments system although I don’t see anything about P2P functionality. 

Retail payments in Latin America and the Caribbean: present and future

This Bank for International Settlements article finds that initiatives that central banks and other authorities are taking in a number of LAC countries to make payments more affordable, more convenient and more inclusive are proving very timely. The Covid-19 crisis has led to a sharp increase in the use of digital payments, prompting many new users to appreciate their convenience. For this reason, much of this increase may not be reversed after the pandemic ends. While this puts a premium on further improvements to payment systems, progress remains quite uneven in the region. Much progress is also needed to improve the efficiency of cross-border payments, which remain slow and expensive.