Kiffmeister’s #Fintech Daily Digest (20220912)

Jamaica’s JAM-DEX CBDC comes with an instruction manual

Richard Turrin alerted me to the Bank of Jamaica (BOJ) JAM-DEX frequently asked questions (FAQ), and provides a nice summary here. Interestingly, the BOJ is not imposing any holding or transaction limits on the use of the central bank digital currency (CBDC). Instead, it is relying on banks to use their own risk management assessment to determine limits. For now, the Lynk wallet limits cashing in to J$50,000 (about $325) daily from a bank account, and J$50,000 monthly from a debit/credit card. For cashing out, limit is J$100,000 daily for a bank account. For transferring to another Lynk user, the limit is J$100,000 daily. [Read more at the BOJ]

This is What a Crumbling Cash Infrastructure Looks Like

The UK government and Bank of England are taking steps to intervene to ensure that cash remains a payment option in the future. The key factor to their success is access to cash withdrawal facilities (be it an accessible ATM or a retailer offering cashback), which in turn relies on those outlets having access to cash deposit facilities. Take away the branches and the ATMs and that access disappears with it. A pay-to-use ATM in a shop that is closed when you need it, or a mobile bank that only visits once a week and is hard to reach anyway, doesn’t cut it. [Read more at Currency News]

Asset Tokenization to Grow into $16tr Opportunity By 2030

A report by Boston Consulting Group (BCG) and digital exchange ADDX forecasts that asset tokenization will expand into a $16.1 trillion business opportunity by 2030.  The projected growth will be driven by demand from a wide range of investors for greater access to private markets. Tokenization and fractionalization of assets lower barriers to investment in private markets by sharply reducing minimum lot sizes. [Read more at BCG]


Discounted tickets available for CBDC Think Tank masterclass

The CBDC Think Tank, in partnership with the IMF and George Washington University, is hosting a full-day in-person CBDC Masterclass on October 12 in Washington DC for “official sector” staff and academics active in the CBDC / digital currency space only. The sessions are designed as instructional deep dives with full presentations and Q&A components.  Tickets are $99. [Register here]

Also, the CBDC Think Tank, in partnership with Georgetown University and the DC FinTech Week, is hosting a FREE (also in-person) 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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s