WeChat will reportedly join AliPay in supporting the People’s Bank of China e-CNY pilot. Payments can be made through WeChat Pay by scanning a QR code once an account on Tencent’s digital bank WeBank is opened. WeChat has added a “digital yuan” option on its WeChat Pay page and a “payment with e-yuan” option on the “receipt and payment” page. Teaming up with WeChat means there are potentially more than 1 billion users who could use the digital currency. [Read more]
In the Spring of 2021, the encrypted communications app Signal added a payments feature in beta for its UK users, testing out integration with MobileCoin privacy-focused cryptocurrency. However, since mid-November, this feature has become accessible to all of its users, offering the ability to send MobileCoin to millions of phones. The MobileCoin wallet can be accessed within a message by tapping the “+” icon and then “payment” although users in some countries (e.g., the US) have no way of loading the cryptocurrency into the wallet yet. [Read more]
The Central Bank of Bahrain successfully completed a test of J.P. Morgan’s JPM Coin System’s Onyx. The test enabled Bank ABC to initiate real-time payments from Aluminium Bahrain (ALBA) to ALBA’s US counterparties. JPM Coin System is a permissioned distributed ledger technology-based system that serves as a payment rail and deposit account ledger, enabling participating entities to transfer US Dollars held on deposit with J.P. Morgan. [Read more]
The Bank of Tanzania is reportedly planning to roll out its new Tanzania Instant Payment System payment system in February, after trialing it with banks and mobile money operators. The interoperable system allows transfer of payments between different participating digital financial service providers. The system will reduce the need to use cash, and is expected to increase financial inclusion by improving access and usage of financial services in Tanzania. [Read more]
The Bank for International Settlements (BIS) announced that Raphael Auer will join the BIS Innovation Hub (BISIH) team as the head of the upcoming Eurosystem Centre, expected to open in the first half of 2022. Raphael is currently a principal economist in the BIS’ Monetary and Economic Department, working with the unit dedicated to Innovation and the Digital Economy. The BISIH Eurosystem Centre will have locations in Frankfurt and Paris. It will be hosted by the European Central Bank, the Deutsche Bundesbank and the Bank of France along with all the other Eurosystem central banks. [Read more]
From yesterday, which some of you may have missed:
The U.S. Securities and Exchange Commission (SEC) has again delayed ruling on NYDIG’s proposal for a spot bitcoin exchange-traded fund (ETF). The original January 15, 2022 deadline has been extended to March 15. Recently the SEC has rejected and delayed decisions on numerous spot bitcoin ETF proposals. [Read more]
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