Kiffmeister’s #Fintech Daily Digest (04/22/2021)

Ethereum’s price has hit new all-time-highs as they broke through the $2,600 level as bitcoin dominance plummets (see bottom of post). 

Norges Bank will test technical solutions for central bank digital currency

In line with the recommendations of an internal working group, Norges Bank will test various technical solutions for a central bank digital currency (CBDC) over the next two years. One of the aims of technical testing is to find a preferred solution if it becomes relevant to introduce a CBDC in Norway. Any introduction of a CBDC will still lie some time in the future. The consultative report is currently available in Norwegian only, but an English translation will be published soon.

Bitkòb, the name of Haiti’s prospective central bank digital central currency

Bitkòb is the name of the prospective central bank digital currency (CBDC) of the Bank of the Republic of Haiti, which was unveiled on March 26, 2021. The central bank has been working on this project since 2019.

DEX volumes reached over $217 billion in Q1 2021

Decentralized exchange (DEX) volumes are up 236% from Q4 2020, Uniswap leading the way as volumes continue to rise in lockstep with asset prices. 

Bitcoin Peer-to-Peer Trading Up 27% in Nigeria Since Crypto Ban

No duh! Three months after Nigeria’s central bank restricted financial institutions from dealing with anything crypto-related, peer-to-peer (P2P) Bitcoin trading in the country is having a heyday. According to analytics platform UsefulTulips, Bitcoin P2P trading in Nigeria has surged by 27% since restrictions were introduced by the country’s central bank (CBN).