Kiffmeister’s #Fintech Daily Digest (20220323)

Thailand Bans Use of Cryptocurrencies for Payments

“Thailand’s Security and Exchange Commission will implement a ban on crypto as a payment method starting from April 1, 2022. The regulator said that cryptocurrencies may affect the financial system’s stability, posing risks to the country’s economy. Other risks highlighted by the SEC include the loss of value due to price volatility, cyber ​​theft, and personal data leakage. The regulator added that cryptocurrencies such as Bitcoin may be used as a tool of money laundering.” [Read more]

Lemonade Is Working With Avalanche, Chainlink on Weather Insurance for Farmers

A newly formed decentralized autonomous organization (DAO) backed by the Lemonade Foundation will roll out permissionless weather insurance to African farmers later this year. The coalition is dedicated to building and distributing at-cost, instantaneous, parametric weather insurance to subsistence farmers and livestock keepers in emerging markets. The insurance program will be accepting stablecoin or local currency payments from farmers through a decentralized application on the Avalanche blockchain. An initial rollout in Africa is expected within the year, with flood insurance in Nigeria expected to be an initial offering, according to a person involved in the project. [Read more]