Kiffmeister’s #Fintech Daily Digest (11/22/2021)

SIX claims world first with tokenized bond issuance on its new Digital Exchange

SIX’s Digital Exchange has reportedly issued the world’s first tokenized bond in a fully regulated environment using distributed ledger technology (DLT), which settles trades instantly, freeing up liquidity. The bond, which was joint lead managed by Credit Suisse, UBS, and Zürcher Kantonalbank, was issued in two parts. Part A, the digital or tokenized part of the bond, accounted for CHF100 million of the total issuance volume. The remaining CHF50 million, was allocated to the traditional part of the bond (Part B). [Read more]

Global regulatory database to help policymakers unlock fintech’s potential

The World Bank has assembled a Global Database of Fintech Regulations that constitutes a curated library of enabling laws, regulations, and guidelines from nearly 200 countries in a searchable and easy-to-use format. The data show that while some countries have strong enabling regulations for fintech and digital financial services, others simply lack the necessary regulatory infrastructure. Also, foundational legislation exists in most countries, but there are important gaps, for example in the implementation of basic data-protection regulations. [Read more]

Eurosystem publishes new framework for overseeing electronic payments

The European Central Bank (ECB) has approved a new oversight framework for electronic payments following a public consultation. The Eurosystem will use the new payment instruments, schemes and arrangements (PISA) framework to oversee companies enabling or supporting the use of payment cards, credit transfers, direct debits, e-money transfers and digital payment tokens, including electronic wallets. It will also cover crypto-asset-related services, such as the acceptance of crypto-assets by merchants within a card payment scheme and the option to send, receive or pay with crypto-assets via an electronic wallet. [Read more]

4 key cybersecurity threats to new central bank digital currencies

The World Economic Forum published an article that summarizes key points from its new white paper on central bank digital currency (CBDC) technology considerations that lays out imperative considerations for CBDC cybersecurity. The bar for security is not only about “keeping the bad guys out” or minimizing unauthorized account access. It must be comprehensive and consider the full spectrum of risks, ensuring that the system works as it was designed and that its integrity remains intact. [Read more]

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