Central Bank of Eswatini partners with Giesecke+Devrient to further explore CBDC issuance
The Central Bank of Eswatini (CBE) has partnered with Giesecke+Devrient (G+D) to research and explore the development of a central bank digital currency (CBDC). G+D’s appointment stems from the completion of the 1st phase of the CBDC Diagnostic Study conducted in 2020 which found that a retail CBDC presented the strongest and direct opportunity for the adoption of a digital currency in Eswatini. [Read more at the CBE]
JP Morgan to tokenize euro deposits soon
“JP Morgan already enables tokenized U.S. dollar deposits with JPM Coin. Now it plans to enable blockchain-based Euro deposits ‘soon’… Most blockchain financial applications sit under JP Morgan’s Onyx division. This includes Onyx Digital Assets with an intraday DLT repo application, Liink for messaging around conventional payments and JPM Coin. It’s also experimenting with using JPM Coin on a public blockchain as part of Project Guardian, its Singapore DeFi experiments with the Monetary Authority of Singapore.” [Read more at Ledger Insights]
Towards a composable standards-based CBDC implementation
This paper by Vipin Bharathan and Mani Pillai proposes a CBDC implementation approach based on two reference standards; the Token Taxonomy Framework (TTF) and the International Swaps and Derivatives Association (ISDA) Common Domain Model (CDM) for contracts. The proposal’s basic pattern is a contract network linked to a token network, bridging the gap between business contracts and the corresponding exchange of value. [Read more at SSRN.com]
Here’s why Silvergate is delaying its planned stablecoin launch
Silvergate Capital no longer plans to launch its own payments-focused, dollar-pegged stablecoin this year. Company executives said the delay is related to regulatory compliance, not technical issues, underscoring that the technology was ready when Silvergate acquired it from Diem. [Read more at the Block]
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.
