Oddo BHF Launches its First Euro-Backed Stablecoin (Blockstories)

Oddo Berliner Handels- und Frankfurter (Oddo BHF) became one of the first European banks to launch a stablecoin with the launch of its EUROD. According to Blockstories, approval was given by Autorité de Contrôle Prudentiel et de Résolution (ACPR), the French banking supervisor. This also makes Oddo BHF the first European bank not to set up a segregated reserve for a bank-issued stablecoin, which means that the stablecoin’s reserves appear on Oddo BHF’s balance sheet and can be integrated into the bank’s fractional-reserve system. Currently only Japan’s, Singapore’s, and the European Union’s stablecoin regulations allow credit institutions to issue stablecoins directly backed by their balance sheets. [Source: Oddo BHF and Blockstories]

Embracing New Technologies and Players in Payments (FRB)

U.S. Federal Reserve Board (FRB) Governor Waller introduced the concept of a “skinny” master account, or payment account, at the FRB’s Payments Innovation Conference. The proposal envisions making basic Federal Reserve (Fed) payment services available to legally eligible institutions focused on payments innovation, especially those that do not require full access to the traditional master account’s suite of services. The skinny account would provide access to Fed payment rails but would come with key restrictions: it would not pay interest, could have balance caps, would lack daylight overdraft privileges, and would not allow discount window borrowing or access to all Fed services. The goal is to streamline account approval for lower-risk firms, helping payment innovators move faster while maintaining the safety and stability of Fed operations. This is presented as a prototype idea, and staff will solicit stakeholder feedback going forward.​ [Source: FRB]

GSMA and Leading African Operators Propose Minimum Requirements for Affordable 4G Smartphones (GSMA)

The Global System for Mobile Communications Association (GSMA) and six leading African mobile operators have announced a new initiative to establish minimum requirements for affordable entry-level 4G smartphones, aimed at accelerating digital inclusion across Africa. The proposal is part of the GSMA Handset Affordability Coalition and addresses smartphone affordability as the primary barrier to mobile internet adoption in Sub-Saharan Africa, where more than 3 billion people globally live within mobile broadband coverage but don’t use the internet. According to GSMA Intelligence, a $40 smartphone could enable an additional 20 million people in Sub-Saharan Africa to access mobile internet, while a $30 device could connect up to 50 million people. The initiative proposes baseline specifications for memory, RAM, camera quality, display size, battery performance, and other features to ensure viable 4G smartphone experiences at reduced costs. The GSMA will engage with manufacturers and technology companies to gain support for these affordable devices, while simultaneously calling on African governments to remove taxes on entry-level smartphones priced below $100, as VAT and import duties can increase device prices by more than 30% in some countries. [Source: GSMA]

Upcoming Speaking Engagements:

Stablecoin C-Suite Summit (New York City on November 14-15) will be the definitive conference for exploring the future of digital money and intelligent payments. The event brings together founders, C-level executives, investors, policymakers, and developers for two immersive days of talks, panels, and networking. This be the place to be if you’re building, backing, or regulating the next wave of programmable finance. [Register here]

The Digital Euro Conference 2026 (Frankfurt, March 26) will explore the future of money with a focus on CBDCs, stablecoins, and commercial bank tokens. This hybrid event offers the perfect platform to understand the future of digital money! When you register, get 20% off the regular ticket price by using the Kiffmeister20 code! [register here]

I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.