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.
