Nigerian Central Bank Slashes CBDC Transaction Fees by 50%
The Central Bank of Nigeria is reportedly slashing the service fees incurred by individuals and merchants using the eNaira central bank digital currency (CBDC) platform by 50%. [Read more at the Daily Trust]
Banco Central do Brasil publishes list of projects selected for LIFT 2022
The Banco Central do Brasil (BCB) announced the short list of eight projects selected in the 2022 Laboratory of Financial and Technological (LIFT). One of them is a proposal to convert a stablecoin on the Celo blockchain into Real Digital, studying the interoperability between the public blockchain that runs on the EVM (Ethereum Virtual Machine) and the central bank digital currency (CBDC), in addition to the possible interoperability with Pix. [Read more at the BCB]
Federal Reserve updates FedNow Service timing to mid-2023
The Federal Reserve Banks have narrowed the timing of the FedNow Service launch to mid-year 2023, specifically targeting a production rollout of the service in the May to July timeframe. This further defines the previously communicated 2023 launch window for the anticipated instant payments service and comes as the FedNow Pilot Program prepares to enter technical testing for the service starting in September. [Read more at the Fed]
Indonesia and Singapore to Pursue Cross-border QR Code Payments Connectivity
Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) have commenced work on a cross-border QR payment linkage between Indonesia and Singapore as part of the ASEAN-wide payments connectivity effort. This linkage, which is targeted to be launched in the second half of 2023, will allow users to make instant, secure, and efficient retail payments by scanning the QRIS (Quick Response Code Indonesian Standard) or NETS QR codes displayed by merchants. [Read more at the MAS]
FBI: Crooks are using these DeFi flaws to steal your money
After a run of thefts from decentralized finance (DeFI) platforms, the US Federal Bureau of Investigations (FBI) has warned that criminals are increasingly exploiting bugs in these platforms to steal investors’ cryptocurrency. [Read more at the FBI]
Discounted tickets available for CBDC Think Tank masterclass
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. Ticket prices are as low as $99 and you can save 30% by entering KIFFMEISTER where the registration page asks for a discount code. [Register here]
Also, the CBDC Think Tank, in partnership with Georgetown University and the DC FinTech Week, is hosting a FREE Digital Currency Lecture Series, a set of digital currency lightning talks delivered by subject matter experts, on October 14 in Washington DC. [Request an invite here]
Kiffmeister’s Global Central Bank Digital Currency Monthly Monitor
Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So for any of you out there who work for a central bank, ministry of finance or international financial institution who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at chronicles@kiffmeister.com.
