Kiffmeister’s #Fintech Daily Digest (10/22/2021)

The open-source CBDC Tracker has been updated to add the following countries that have announced central bank digital currency (CBDC) projects: Chile, Hong Kong, Honduras, Guatemala, Laos and Bhutan. We’ve also provided updated information for Georgia, Turkey, New Zealand and the United Kingdom. If you would like to become part of our CBDC Tracker Community, please join our Telegram group via the following link:  

Jamaica’s central bank targets large merchants for digital wallets

The Bank of Jamaica’s push to deepen the mobile money market forms part of the central bank’s CBDC drive to reduce cash usage. Governor Byles reportedly appealed to banks and other deposit-taking institutions to encourage their merchant customers to set up CBDC wallets. In particular, he wants to see cash-intensive industries to set up digital wallets to pay pensioners, enable toll road payments, and facilitate remittance flows. The test phase of the Jamaica CBDC, to assess the smoothness of transactions and get a read on the potential market receptivity to a digital currency, is under way and should wrap up by year end, with a public roll-out scheduled soon after. [Read more

First Bitcoin ETF Is Already in Danger of Breaching a Limit on Futures Contracts

The ProShares Bitcoin Strategy ETF is on track to reach a limit on the number of futures contracts it’s allowed after quickly becoming a little too popular. After just a couple of days of trading, the ProShares ETF has reached 1,900 contracts sold for October and there is 2,000 front-month limit imposed by the Chicago Mercantile Exchange. There are already 1,400 contracts for November and there is an overall maximum limit of 5,000 open contracts. [Read more

Walmart installs 200 Bitcoin ATMs across the US

Walmart has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to set up a pilot of 200 Bitcoin ATMs in its stores across the US. The wider launch aims to eventually see the installation of 8,000 bitcoin ATMs across the country. These Bitcoin ATMs have an 11% surcharge, consisting of a 4% fee for the Bitcoin option, and an extra 7% cash exchange fee. In comparison, popular cryptocurrency trading platforms Coinbase and Binance charge 3.99% and 3% to 4.5% for credit and debit card purchases respectively. [Read more]

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