Kiffmeister’s #Fintech Daily Digest (20221115)

CBDCTracker.org has updated its open-source central bank digital currency (CBDC) project database. Key updates include the Reserve Bank of Australia building a wholesale CBDC solution on permissioned Ethereum, the People’s Bank of China continuing to expand its retail CBDC pilots, the Reserve Bank of India launching a wholesale CBDC pilot with a retail CBDC pilot soon to follow, the Iranian monetary authority launching a pilot of its RamzRial “national cryptocurrency”, and further details surrounding a Norwegian CBDC. [Read more at CBDCTracker.org]

SBI, ICICI, IDFC, HDFC, Yes Bank in RBI’s list for digital currency pilot

State Bank of India, ICICI Bank, IDFC First Bank, HDFC Bank and Yes Bank are reportedly among a shortlist of at least five lenders that the Reserve Bank of India (RBI) has chosen to work on its retail central bank digital currency (CBDC) pilot that is expected to go live soon. [Read more at the Economic Times]

Trezor reports 300% surge in sales revenue due to FTX contagion

Amid growing concerns over centralized cryptocurrency exchanges in the wake of the FTX crisis, investors are increasingly moving to hardware crypto wallets. Hardware wallet provider, Trezor, saw its sales revenue surge 300% week-on-week and it’s still growing in the aftermath of the FTX debacle. Ledger, a major rival hardware wallet supplier, has also recorded a significant surge in demand for its devices recently as well. And now even some of the biggest crypto exchanges have started promoting the need for self-custody. Binance CEO Changpeng Zhao admitted on November 14 that centralized exchanges may no longer be necessary as investors would shift to self-custodial solutions like hardware or software wallets. [Read more at Coin Telegraph]

Bitcoin Cash Could Be Legal Tender in St. Kitts by March

“Bitcoin Cash (BCH) could be legal tender in Saint Kitts and Nevis by next March… [Prime Minister] Terrance Drew, who is also finance minister of the Caribbean country, said the decision would follow a process of due diligence and consultation with experts and the Eastern Caribbean Central Bank… Bitcoin Cash is a fork of Bitcoin, which split in 2017 with the aim of making transactions faster and easier, and is, Terrance said, already in practice being accepted by some local businesses.” [Read more at CoinDesk and the Saint Kitts and Nevis government website]

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.

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