Kiffmeister’s #Fintech Daily Digest (04/01/2021)

Just a reminder that I just published my latest Global Fintech Monthly Monitor that summarizes all of the key global fintech news in March. Make sure to download the PDF version that includes bonus tables.

Also, just to let you all know, yesterday was my last day at the International Monetary Fund after 15+ years. However, you can count on me to keep posting my daily updates here and the Monthly Monitor on the Global Fintech Intelligencer for the foreseeable future. Meanwhile, I plan to spend the next few months exploring various post-retirement work options. And now on to the headlines…

Morgan Stanley files to add bitcoin exposure across a dozen institutional funds

A number of Morgan Stanley’s institutional funds may gain exposure to bitcoin in the form of cash-settled futures or a Grayscale’s Bitcoin Trust. The U.S. Securities and Exchange Commission (SEC) filing names twelve funds considering some kind of bitcoin investment or exposure strategy. The filing also indicates that as much as 25% of their respective assets could be put towards bitcoin products.  

Federal Reserve announces ISO20022 specifications for initial launch of the FedNow Service

The U.S. Federal Reserve has released message specifications for the initial launch of its FedNow Service for instant payments based on the standard set by the International Organization for Standardization, or ISO. The FedNow ISO 20022 specifications define the message flows and formats that the service will leverage when operational in 2023.