There’s no new news today, but yesterday’s Digest went out with a confusing “password protected” message, so I’m resending it today to make sure no one missed anything.
Successful execution of RBI’s programmable CBDC pilot
IndusInd Bank successfully implemented the Reserve Bank of India’s (RBI’s) programmable central bank digital currency (CBDC) pilot. It was executed as an alternate form of CBDC wherein the bank can program the end use of funds being disbursed to farmers in lieu of generation of carbon credits. IndusInd Bank initiated the programmable CBDC disbursement to 50 farmers in Ratnagiri district of Maharashtra, which will expand to 1000 farmers. Phase 2 of the project will focus on Safai Karmacharis, aiming to increase their income by leveraging revenues generated from the collection, recycling, and repurposing of plastic waste. [Read more at IndusInd Bank]
BIS Innovation Hub Project Pyxtrial request for quotation
In February 2023, the Bank for International Settlements (BIS) Innovation Hub published its 2023 workplan that included Project Pyxtrial, aimed at building a stablecoins monitoring platform to ensure that the backing assets at least match the stablecoin issuance. That was the last I heard of it, but I just came across a request for quotation (RFQ) that was published in August 2023 for “visionary partners with outstanding experience and technological capabilities to join [the London Centre] to design and build prototypes of the data reporting pipeline. The RFQ was supposed to have closed in September 2023 and the work started in October. [Read the RFQ here]
Upcoming Speaking Engagements:
CBDC Conference, Istanbul, September 10-12. The conference will offer representatives of central banks, commercial banks, technology providers, policy makers and academics the perfect platform to learn about the latest CBDC developments, exchange ideas with experts and peers. [Find out more and register here]
Digital Currency Conference, London, September 23-24. The conference will bring together policymakers, regulators, and technology and innovation experts to network and discuss all aspects of digital currencies. And enter the KiffmeisterDCC code at registration to get a 20% discount! [Find out more and register here]
Kiffmeister’s 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 (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and 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 john@kiffmeister.com.