Kiffmeister’s #Fintech Daily Digest (04/28/2021)*

Bank of Korea CBDC Experiments Planned for Second Half of 2021

According to its 2020 Payments and Settlement Report, the Bank of Korea will conduct simulation experiments for its CBDC in the second half of 2021.

Bank of Jamaica launches a contest to name its CBDC

The Bank of Jamaica seeks interested persons to propose a suitable name, tagline, logo and image for its new central bank digital currency (CBDC). “The logo and representative design should be distinctive, attractive, and adequately represent the CBDC as a safe and convenient digital alternative to cash.” 

European Investment Bank to price €100 million in bonds on Ethereum: report

The European Investment Bank (EIB) plans to issue and price €100 million of two-year notes in the Ethereum network, overseen by Goldman Sachs, Banco Santander, and Societe Generale. 

Mastercard and digital currency exchange Gemini to launch crypto rewards credit card

Mastercard and U.S. crypto-asset exchange Gemini will launch the first credit card that gives users digital currency rewards on purchases this summer. Users of the no-fee card will receive up to 3% in bitcoin or other crypto-assets on their purchases, with the digital currency deposited in the cardholder’s Gemini account. The card will be issued by WebBank, a Utah-based digital lender.

Turkey Cryptocurrency Exchange Bust Spurs Move for Regulation

The Turkish government is reportedly planning to establish a central custodian bank to eliminate counterparty risk following the collapse of the Thodex and Vebitcoin exchanges last week. Authorities are also pondering a capital threshold for exchanges and education requirements for executives at such firms, although the plans haven’t been finalized yet.

U.S. Bank details new cryptocurrency offerings

U.S. Bank Global Fund Services will offer a new cryptocurrency custody product for customers with the engagement of a sub-custodian for fund servicing. U.S. Bank has been selected to administer NYDIG’s ETF bitcoin fund, pending U.S. Securities and Exchange Commission (SEC) approval. 

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