Kiffmeister’s #Fintech Daily Digest (20220701)

Decision Making Model for Digital Tenge implementation is developed

The National Bank of Kazakhstan (NBK) and NBK’s Payment and Financial Technologies Development Center published a paper describing its Digital Tenge central bank digital currency (CBDC)  implementation model. Based on results of the study obtained with the use of this model, a final decision will be made by the end of 2022 whether to implement CBDC in Kazakhstan, following end-to-end testing of the technological platform with market participants and consumers during the 4th Quarter of 2022. [Read more]

Coinbase’s conflation of USDC in-house stablecoin, US dollar sparks liquidity concerns

Coinbase announced that the platform will be “unifying USD and USDC order books,” adding that “USDC order books will be merged under USD order books to create a better, more seamless trading experience with deeper liquidity for USD and USDC.” USDC (aka USD Coin) is the stablecoin issued by Centre, a consortium of Circle and Coinbase. This may provide a ‘more seamless’ experience, but it also gets Coinbase out of a potential fiat liquidity crunch, in the wake of massive customer USD withdrawals during the current crypto crash. [Read more]

Upcoming events I’m affiliated with:

The CBDC Think Tank, in partnership with the International Monetary Fund and George Washington University, is hosting a full-day in-person CBDC Masterclass on October 12 in Washington DC. The sessions are designed as instructional deep dives with full presentations and Q&A components.  [Register here]