Category: FinancialInclusion

Kiffmeister’s #Fintech Daily Digest (20260429)

~ kiffmeister

Selling the Digital Euro to Legislators (PIIE)

On April 22, 2026, the Peterson Institute for International Economics (PIIE) hosted a virtual event at which Nicolas Véron interviewed the European Central Bank’s (ECB’s) Piero Cipollone on the digital euro project. As Izabella Kaminska noted on X, at one point Veron opined that the ECB’s concerns about the big US payment companies (e.g., MasterCard and VISA) pulling out of Europe is somewhat far-fetched, to which Cipollone admitted that the rhetoric is largely in play just to motivate legislators to push ahead with the digital euro. “The geopolitical risk, this is resonating much more with politicians and that’s where we saw some acceleration from the political side to put this project into focus… I must confess that before, this was a slow-moving project, at least at the legislative level. Then what happened in the last three/four years, it provided a sort of acceleration, mostly on the political side”. [PIIE]

Digitalization and Innovation – Opportunities and Risks for Financial Health (BIS)

A Bank for International Settlements (BIS) Financial Stability Institute brief argues that digital financial innovation is enhancing access to payments, credit, savings and insurance, and can help people to manage their financial obligations and have greater confidence in their financial future. However, these benefits are emerging alongside new vulnerabilities: a global surge in scams and fraud, greater overindebtedness among some digital borrowers and the use of ill-suited investment products. This mixed record challenges the presumption that inclusion automatically produces well-being, requiring supervisors to adopt outcome-focused oversight and disaggregated measurement beyond access metrics alone. Whether digital public infrastructure can systematically translate inclusion gains into durable financial health improvements at scale remains empirically unresolved. [BIS]

FYI 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.

Kiffmeister’s #Fintech Daily Digest (20251021)

~ kiffmeister

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.

Kiffmeister’s #Fintech Daily Digest (20250203)

~ kiffmeister

I’ve updated my tabulation of the 105 central banks that have recently conducted launched, piloted, experimented with and/or researched retail central bank digital currency (#CBDC). This total is unchanged from the end of September 2024. It doesn’t include the two that started issuing retail CBDC and then shut the platforms down (Ecuador and Finland). Also, keep in mind that I don’t double count all of the individual national central banks that are part of currency unions (e.g., the European or Eastern Caribbean Currency Unions). [Check the table out here]

Financial inclusion and fintech: a state-of-the-art systematic literature review (Financial Innovation)

Financial Innovation published a paper that presents an all-inclusive analysis of the literature on the augmentation of financial inclusion through fintech. Ninety-six papers were selected from the 2951 articles in the Web of Science, Scopus, and EBSCO databases. This study uses bibliometric and content analysis techniques to illuminate the underexplored aspects of fintech’s impact on financial inclusion. Unlike previous studies, this study consolidates a significant amount of the literature on financial inclusion by systematically contextualizing theories and viewpoints from the fintech sector. The key findings include the identification of three main research clusters: (1) the advent of novel services, (2) the transformation of the market landscape, and (3) the roles of stakeholders in the fintech ecosystem. The analysis reveals gaps in the existing research, such as the need for more studies on the tangible impact of fintech on financial inclusion and regulation. [Read more at Financial Innovation]

Social media users more likely to invest in cryptocurrencies (UGA)

The University of Georgia (UGA) published a summary of a paper that investigated the associations between social media usage and crypto investment behavior. It found that The study found that about half of social media users surveyed have invested in digital currencies. And the more social media platforms a user was active on, the more likely they were to invest.. Meanwhile, only 10% of non-social media users had invested in crypto. YouTube, Reddit, Twitter and Clubhouse users were the most likely to invest in crypto. Instagram users weren’t as keen on crypto. The researchers found men and those with a higher risk tolerance were more likely to invest in crypto, but people with a higher education level and older people were less likely to invest in crypto. [Read more at the UGA]

Sponsored Content:

Upcoming Speaking Engagements:

  • The Central Bank Payments Conference (Paris, February 17–19) will explore the latest issues and developments confronting central banks and their evolving role as operators, overseers, and catalysts within the payments landscape. The focus will be on cross-border payments, CBDC and tokenization, open finance, instant payments, and financial inclusion, among other topics. When you register get 15% off by using the Kiffmeister15 code. [register here]
  • The Global Payments Summit (Paris, February 19–21), the second half of Currency Research Payments Week, will explore emerging payments trends and innovations, positioning the ecosystem’s commercial players — banks, PSPs, solution providers — at the center of the discussions. When you register get 15% off by using the Kiffmeister15 code. [register here]
  • The Crypto Assets Conference (Frankfurt, March 26) will explore the latest innovations and emerging industry trends in DLT, blockchain, and crypto assets, through insightful talks, interactive debates, and presentations by industry thought leaders. [Register here]
  • The Digital Euro Conference 2025 (Frankfurt, March 27) will explore the future of money with a focus on CBDCs, stablecoins, tokenized deposits, and the intersection of AI and digital ID. When you register, get 20% off the regular ticket price by using the Kiffmeister20 code! [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.