Kiffmeister’s #Fintech Daily Digest (20220411)

BSP continues to focus on wholesale digital currency

Bangko Sentral ng Pilipinas (BSP), in its 2021 Annual Report, reiterated its assessment that a wholesale central bank digital currency (CBDC) may be more helpful in addressing frictions that affect the efficiency and safety of wholesale payments involving cross-border fund transfers, equity securities transactions settlement and intraday liquidity facilities. [Read more]

CLabs to Work With eCurrency to Integrate CBDCs With DeFi

CLabs, the organization behind the Celo ecosystem will be working with CBDC platform vendor eCurrency. Through the partnership, central banks that are trialing or launching CBDCs will be able to use the Celo blockchain to allow end users access to decentralized finance (DeFi) products. [Read more]

Crypto Use Is More Rampant In Corrupt Countries, IMF Study Shows

The IMF has published a working paper that explores the correlation of crypto-asset usage with indicators of corruption, capital controls, a history of high inflation, and other factors. It finds that crypto-asset usage is significantly and positively associated with higher perceptions of corruption and more intensive capital controls. The results support the case for regulating crypto-assets, including know-your-customer approaches, as opposed to taking a laissez-faire stance. [Read more]

Upcoming events I’m affiliated with:

The CBDC Think Tank is hosting several webinars over the next month:

Satoshi Capital Advisors is hosting a virtual workshop on wholesale CBDC, stablecoins and digital capital markets on May 24 (starting at 08:00 EST). [Register here with the passcode: CBDC]