Day: May 14, 2024

Kiffmeister’s #Fintech Daily Digest (20240514)

~ kiffmeister

I’ve updated my tabulation of distributed ledger technology (DLT) based wholesale central bank digital currency (CBDC) explorers. [Read more at Kiffmeister.com]

First Eurosystem DLT trials for wholesale central bank money settlement

The Eurosystem successfully completed its first experiment in the current batch in settling wholesale transactions tokenized on a DLT platform in central bank money. Oesterreichische Nationalbank tokenized and simulated delivery-versus-payment settlement of government bonds in a secondary market transaction. [Read more at the European Central Bank]

And here are stories that I published in yesterday’s Digest that may not have gone out to everyone on my mailing list:

Few Chinese workers paid in digital yuan choose to use it

Some Chinese cities have begun to pay employees with eCNY but most convert to cash immediately. Ledger Insights points out that this may be because few retail outlets accept it because of the zero acceptance fees paid by merchants, versus the 0.6% paid on other retail digital payment instruments. Apparently, point-of-sale (POS) equipment manufacturers earn a cut of merchant fees, so zero eCNY fees disincentivize conversion of POS equipment. [Read more at Ledger Insights]

El Salvador launches Bitcoin treasury monitoring website

The El Salvador government has launched a proof-of-reserves website to provide real-time on-chain transparency of its Bitcoin holdings. The government currently holds 5,748 Bitcoin currently worth about $350 million. They were bought at an average cost of $43,097 per Bitcoin, for a substantial unrealized profit. [Read more at Coin Telegraph]

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][Central bank delegates may be eligible for free registration (email registration@cbdc-conference.com to find out more)]
  • 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]

And 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.

Jurisdictions Where DLT-Based Wholesale CBDC Is Being Explored

~ kiffmeister ~ 1 Comment

Distributed ledger technology (DLT) based wholesale central bank digital currency (CBDC) pilots or proofs-of-concept (POCs) are underway, or have been done/launched in 20 monetary jurisdictions (unchanged from my end-March update). Keep in mind that I don’t count all of the individual national central banks that are part of currency unions (e.g., the Euro Area). If I’m missing anything, or you find mistakes in the tabulation, please let me know in the comments!

wcbdc-explorer-tabulation-portrait-1.pdfDownload

*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.

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 john@kiffmeister.com.

Kiffmeister’s #Fintech Daily Digest (20240513)

~ kiffmeister

I’ve updated my tabulation of retail central bank digital currency (CBDC) explorers. [Read more at Kiffmeister.com]

Few Chinese workers paid in digital yuan choose to use it

Some Chinese cities have begun to pay employees with eCNY but most convert to cash immediately. Ledger Insights points out that this may be because few retail outlets accept it because of the zero acceptance fees paid by merchants, versus the 0.6% paid on other retail digital payment instruments. Apparently, point-of-sale (POS) equipment manufacturers earn a cut of merchant fees, so zero eCNY fees disincentivize conversion of POS equipment. [Read more at Ledger Insights]

El Salvador launches Bitcoin treasury monitoring website

The El Salvador government has launched a proof-of-reserves website to provide real-time on-chain transparency of its Bitcoin holdings. The government currently holds 5,748 Bitcoin currently worth about $350 million. They were bought at an average cost of $43,097 per Bitcoin, for a substantial unrealized profit. [Read more at Coin Telegraph]

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][Central bank delegates may be eligible for free registration (email registration@cbdc-conference.com to find out more)]
  • 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]

And 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.