Boosting adoption is key for CBDC viability in Asia Pacific
An article by three Bank for International Settlement (BIS) staffers reviews the experiences of central bank-led mobile payments innovations to draw lessons for central bank digital currency (CBDC) adoption. They find that the key is to meet users’ preferences, like needs for privacy and usability, and addressing commercial banks’ concerns around disintermediation. Also, new functionalities, like offline access, could enhance CBDCs’ appeal, while interoperability could broaden payment channels, both of which help boost user adoption. [Read more at Asia Global Online].
Valkyrie joins rush with BTC spot ETF application
Cryptocurrency fund manager Valkyrie is filing with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin spot exchange-traded fund (ETF). BlackRock, WisdomTree and Invesco have recently filed similar applications, and Fidelity will reportedly follow suit. Valkyrie has already several bitcoin-related investment vehicles in the United States, including bitcoin futures ETFs and Valkyrie Bitcoin Miners ETF, which tracks securities of companies that derive their revenue or profits from bitcoin mining. [Read more at CoinTelegraph]
*For those interested in intra-day updates, check out my searchable Diigo Fintech developments database, which is also a good place to go to query for past developments: https://www.diigo.com/user/kiffmeister/ART.
Upcoming conferences, webinars and speaking engagements:
- I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
- I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register 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.
The Sovereign Official Digital Association (SODA) is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA believes institutions in the existing financial ecosystem should have access to the tools and resources they need to move from discussion to action. SODA offers ‘real life’ use cases to help test digital money and drive adoption as central banks and other public institutions explore the future of a more financially inclusive world powered by interoperable blockchain-based networks. SODA would love you to join us on this journey – please get in touch (chris@sodapublicmoney.org).
Satoshi Capital Advisors is a New York-based, global advisory firm that works with central banks, governments, and the private sector to architect, implement, and operate varying initiatives. Satoshi Capital Advisors’ central bank work revolves around CBDC architecture and implementation, providing advisory services from research phase through to growth phase. Utilizing a product-market fit and technology agnostic approach to CBDC architecture and implementation enables Satoshi Capital Advisors to build tailored solutions, bespoke to local financial system nuances. Satoshi Capital Advisors welcomes requests from central bank officials for virtual and in-person CBDC workshops. [Click here for more information]
WhisperCash offers the first fully offline digital currency platform that has the same properties as physical cash. It can perform secure consecutive offline payments without compromising on security, privacy or accessibility. WhisperCash allows direct person to person offline payments without any server infrastructure or internet connectivity. It comes in various form factors including the self-contained credit card-sized “Pro” that sports an eInk screen and capacitive keyboard, and lasts for two weeks between recharges assuming a few transactions per day. [Click here for more information]