Kiffmeister’s #Fintech Daily Digest (20230602)*

June 2, 2023 ~ kiffmeister ~ Leave a comment

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

Kenya central bank says digital currency not a ‘compelling priority’

The Central Bank of Kenya (CBK) does not consider the issuance of a CBDC a “compelling priority in the short to medium term” but it will continue monitoring developments in the area to inform future assessments of the need for CBDC in Kenya . In February 2022, the CBK issued a consultative paper on CBDC and the comments have been compiled into a new discussion paper. It also provides an update on key global CBDC developments since February 2022, concluding that “the allure of CBDCs is fading”. [Read more at the CBK]

Empowering central bank money for a digital future

The Société Universitaire Européenne de Recherches Financières (SUERF) published a paper that suggests that central banks and policymakers start with trigger solutions when considering wholesale CBDC (wCBDC). Trigger solutions connect the distributed ledger technology (DLT) world with conventional settlement systems and enable the settlement of tokenized assets in central bank money. By connecting DLT networks with conventional payment systems, they combine the advantages of decentralized infrastructures with the reliability of the central bank. No new form of (tokenized) money needs to be introduced. The trigger solution can play a neutral role and is agnostic across three dimensions: use cases, payment systems and asset systems. Furthermore, trigger solutions are characterized by comparatively low technical and operational complexity, and are a convenient way to test the case for wCBDC and observe market adaptation. [Read more at SUERF]

*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.

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

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 chronicles@kiffmeister.com.

The Sovereign Official Digital Association (SODA) is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA believes institutions in the existing financial ecosystem should have access to the tools and resources they need to move from discussion to action. SODA offers ‘real life’ use cases to help test digital money and drive adoption as central banks and other public institutions explore the future of a more financially inclusive world powered by interoperable blockchain-based networks. SODA would love you to join us on this journey – please get in touch (chris@sodapublicmoney.org).

Satoshi Capital Advisors is a New York-based, global advisory firm that works with central banks, governments, and the private sector to architect, implement, and operate varying initiatives. Satoshi Capital Advisors’ central bank work revolves around CBDC architecture and implementation, providing advisory services from research phase through to growth phase. Utilizing a product-market fit and technology agnostic approach to CBDC architecture and implementation enables Satoshi Capital Advisors to build tailored solutions, bespoke to local financial system nuances. Satoshi Capital Advisors welcomes requests from central bank officials for virtual and in-person CBDC workshops. [Click here for more information]

WhisperCash offers the first fully offline digital currency platform that has the same properties as physical cash. It can perform secure consecutive offline payments without compromising on security, privacy or accessibility. WhisperCash allows direct person to person offline payments without any server infrastructure or internet connectivity. It comes in various form factors including the self-contained credit card-sized “Pro” that sports an eInk screen and capacitive keyboard, and lasts for two weeks between recharges assuming a few transactions per day. [Click here for more information]

Jurisdictions Where Wholesale CBDC Is Being Explored

June 2, 2023June 2, 2023 ~ kiffmeister ~ 4 Comments

There 17 central banks that are (or recently have been) experimenting with wholesale central bank digital currency (CBDC). Please keep in mind that I only tabulate efforts that are publicly announced by the central banks themselves or other credible sources. Plus, I don’t “double count” countries in currency zones, so I count all Eurozone countries as one, because the European Central Bank is the sole issuer of a potential digital euro, even though individual Eurozone central banks (e.g., Banque de France and Oesterreichische Nationalbank) are leading research efforts. But if I’m missing anything, or you find mistakes in the tabulation, please let me know in the comments!

WCBDC-Explorer-Tabulation-portrait Download

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Jurisdictions Where Retail CBDC Is Being Explored

June 1, 2023June 1, 2023 ~ kiffmeister ~ 15 Comments

There are 94 central banks (no change since end-May) that have recently issued, piloted, experimented with and/or researched retail central bank digital currency (#CBDC) not including two that started issuing retail CBDC and then shut the platforms down (Ecuador and Finland). The highlighted central banks indicate updates since the last time I posted the tabulation. If I’m missing anything, or you find mistakes in the tabulation, please let me know in the comments!

RCBDC-Explorer-Tabulation-portrait-1 Download

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 chronicles@kiffmeister.com.

Kiffmeister’s #Fintech Daily Digest (20230531)*

May 31, 2023May 31, 2023 ~ kiffmeister ~ Leave a comment

RBI CBDC pilot to be expanded to include more locations and banks

The Reserve Bank of India (RBI) is gradually expanding the scope of its retail central bank digital currency (CBDC) pilot to include more locations and banks. The pilot launched on December 1, 2022 in four cities with four banks. Four more banks were subsequently added, and now four more will be added, along with ten more cities. [Read more at the RBI]

Mooney unveils bill to block US CBDC pilot program

Alex Mooney of West Virginia introduced in the US House of Representatives the Digital Dollar Pilot Prevention Act, to prevent the Federal Reserve from launching a pilot program that would test the operability of a CBDC in the U.S. financial system. According too Mooney, “CBDCs would threaten the liberties of law-abiding Americans and are being used by authoritarian countries right now to crack down on dissent.” [Read more from Alex Mooney]

UAE central bank issues AML/CFT guidance for crypto

The Central Bank of the United Arab Emirates (CBUAE) issued new guidance concerning anti-money laundering (AML) and countering financing of terrorism (CFT) measures for crypto businesses on May 31, 2023. It outlines the risks arising from dealing with virtual asset and virtual asset service providers (VASPs), taking into account the recommendations of the Financial Action Task Force (FATF). The new rules will come into effect in one month. [Read more at the CBUAE]

CFTC warns on expansion of clearing digital assets

The Commodity Futures Trading Commission (CFTC) issued a staff advisory on the risks associated with the expansion of Derivatives Clearing Organization (DCO) clearing of digital assets. Noting the increased cyber and other risks that may be associated with digital assets, the CFTC expects DCOs and applicants to actively identify new, evolving, or unique risks and implement risk mitigation measures tailored to the risks that these products or clearing-structure changes may present. [Read more at the CFTC]

Prudential treatment of crypto-asset exposures

The Bank for International Settlements (BIS) published an executive summary of the Basel Committee on Banking Supervision (BCBS) standard on the prudential treatment of crypto-asset exposures published in December 2022. The standard outlines minimum regulatory, supervisory review and disclosure requirements of banks’ crypto-asset exposures under Pillars 1, 2 and 3 of the Basel Framework. Internationally active banks in BCBS member jurisdictions are expected to adopt the standard by 1 January 2025. [Read more at the BIS]

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Kiffmeister’s #Fintech Daily Digest (20230529)*

May 29, 2023May 29, 2023 ~ kiffmeister ~ Leave a comment

Results and findings from Bank of Japan CBDC PoC phase 2

The Bank of Japan (BOJ) published the English version of the results of the second phase of its proof-of-concept (PoC) work in which it confirmed the technical feasibility of the basic functions of a central bank digital currency (CBDC). In April 2023 the prototype phase began, in which the end-to-end process flow will be tested, the measures and potential challenges for connection with external systems will be explored, and considerations and solutions indicated as necessary in the PoCs will also be explored. No decision has been made to issue a digital yen, but the BOJ will continue to its technical work, to be prepared to go. [Read more at the BoJ]

Summary of BoJ CBDC PoC tests and findings

The results of the first PoC phase, which was focused on basic performance such as transaction latency and throughput of various platforms, were published in May 2022. [Read more at the BoJ] In the second phase, additional functions were evaluated in three separate blocks to see what impact they may have on the performance metrics (Figure 1).

The BoJ tested account- and token-based data models (Figure 2). For account-based model testing the BoJ used a traditional relational database (RDB) in the first phase, and in the second, a non-RDB (NoSQL) databases, some of which are said to have high processing speed and performance scalability. A key-value type NoSQL database, which is a data model of a simple combination of a unique key that can identify data and a value, specifically designed for processing rows of data, was selected for the test.

In their token-based model, a unique ID is assigned to face value monetary data, which is linked to user IDs. Tokens can be based on fixed-values in which the face value is fixed like cash and the user to whom the existing tokens are linked is changed after the tokens are converted to ones of lower value as necessary at the time of remittance. Or tokens could be based on flexible-values in which they are merged or split as necessary at the time of remittance and users are linked to newly created tokens.

The ledgers evaluated in the second phase were comprised of the following four designs: (i) (a) centralized management by the central bank or (b) shared management between the central bank and intermediaries for the system architecture and (ii) (a) account-based or (b) token-based for the data model (Figure 3). In Phase 1, Designs 1–3 were evaluated, and in Phase 2, Design 4 was additionally evaluated. Regarding Design 3, while the fixed-value token model was evaluated in Phase 1, the flexible-value token model was evaluated in Phase 2.

To evaluate system performance in both phases, the number of users was set to 100,000, the number of intermediaries was set to 5, and the load for the basic function of transaction instructions was set to 500 transactions per second for the base scenario and 3,000 transactions per second for the high-load scenario. The results suggest that none of the additional functions would cause significantly lower performance and could ensure the scalability and reliability required for a full-scale public digital yen launch.

The results also suggest that the flexible-value token-based model approach has some performance advantages over the fixed-value model in terms of its ability to be processed in parallel. However, the resource requirements and difficulty of implementing additional functions might increase compared with the account-based data model. The BOJ found that the NoSQL database tested did bring performance improvements over RDB databases, but more work needs to be done to confirm compliance with non-performance considerations.

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Kiffmeister’s #Fintech Daily Digest (20230528)*

May 28, 2023May 28, 2023 ~ kiffmeister ~ Leave a comment

Digital euro – Prototype summary and lessons learned

The European Central Bank (ECB) published a summary of the results of its July 2022 to February 2023 prototyping exercise to test how design choices for the digital euro could be technically implemented and integrated into the existing European payments landscape. The tests showed that it is possible to smoothly integrate them, while leaving ample scope for innovative features and technologies. The findings also confirmed that a digital euro could in principle work both offline. [Read more at the ECB]

Digital euro technology market research outcome report

The ECB also reported on its market research on potential technical solution providers for a digital euro. It was aimed at better understanding the level of knowledge in the market and the existing experience in building solutions and identifying suitable technologies to potentially implement a digital euro. [Read more at the ECB]

ESRB publishes report on cryptos and decentralized finance

The European Systemic Risk Board (ESRB) published a report outlining the systemic implications of crypto markets and proposing policy options to address the risks stemming from crypto-assets and decentralized finance (DeFi). It finds that crypto markets have few interlinkages with the traditional financial sector and the real economy, and none of those links are currently significant. However, given the exponential growth and high volatility of cryptos, they need to be closely monitored as they may come to pose systemic risks. [Read more at the ESRB]

An introduction to Web3 with implications for financial services

The Federal Reserve Bank of Atlanta published a paper by the University of California, Berkeley’s Christine Parlour that describes the elements of Web3 including blockchains and tokens. (“Web3” is used to describe the next iteration of the internet in which decentralized services are automated on blockchains.) It describes the largest DeFi protocols and some specific services where blockchain and tokens can be used. The paper concludes with a brief discussion of some regulatory challenges. [Read more at the Atlanta Fed]

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Kiffmeister’s #Fintech Daily Digest (20230526)*

May 26, 2023May 26, 2023 ~ kiffmeister ~ Leave a comment

Circle takes Euro Coin multi-chain with launch on Avalanche

Circle launched its Euro Coin on Avalanche, the first in a series of expected multi-chain launches, following the initial launch on Ethereum last year (2022). Circle currently maintains two fiat-based stablecoins, USD Coin (with a market capitalization of about $29 billion), and Euro Coin ($48 million). [Read more on PR Newswire]

Etonec and Mina Foundation to Create ZK-Powered Compliance Tool

Etonec and Mina Foundation will roll out a new zero-knowledge (ZK) proof-powered regulatory compliance tool for the decentralized finance (DeFi) and Web3 space. It will address gaps within the privacy and compliance space by providing know-your-customer (KYC) and anti-money-laundering (AML) services on the Lumina DEX when it goes live later this year. The prototype is powered by zkApps, which enables private and compliant transactions. [Read more at Etonec]

The potential of CBDC for transforming public finance: a focus on VAT systems

The Japan Ministry of Finance’s Michi Kakebayashi distributed a paper that explores the potential benefits of retail central bank digital currency (CBDC) for value added tax (VAT) systems. These benefits include streamlining and automating transaction, record-keeping, filing, tax payment, refund processes, and auditing reducing compliance and administration costs. While e-invoicing and e-payment may also achieve similar outcomes, the success of such alternatives would depend heavily on the financial institutions. The paper concludes that CBDC can address challenges faced by the VAT system while preserving simplicity, fairness, and effectiveness. [Read more at SSRN]

Taxing Stablecoins

The IMF published a paper that considers stablecoin tax treatment and associated challenges, and the challenges of achieving neutrality. Without greater tax certainty and tax neutrality than what is currently available, stablecoins will not be able to properly fulfill their promise as an alternative means of payment. Gaps and mismatches in tax treatment between tax jurisdictions may create distortions and opportunities for abuse. [Read more at the IMF]

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Kiffmeister’s #Fintech Daily Digest (20230525)*

May 25, 2023May 25, 2023 ~ kiffmeister ~ Leave a comment

Central bank digital currencies: ongoing policy perspectives

In a follow-up to their October 2020 paper, the Bank for International Settlements (BIS) and seven advanced economy central banks have published a new paper that shares perspectives on how central banks can best engage industry and the public, what are the key legal issues related to retail CBDC, what tools may be needed to manage stressed conditions, and what could be the implications of using blockchain technology and associated concepts in CBDC. It also suggests that central banks consider cross-border payments use cases for wholesale CBDC. [Read more at the BIS]

BCB publishes list of selected digital real technical testing participants

Banco Central do Brasil (BCB) selected 14 financial institutions to test digital real privacy and programmability functionalities through the implementation of a delivery versus payment (DvP) protocol for tokenized federal government bonds between customers from different institutions, in addition to the services that make up this transaction. The BCB received 36 proposals of interest from more than 100 institutions. The testing will involve no real transactions (so it isn’t the pilot that the BCB claims it to be). [Read more at the BCB]

Russia’s digital ruble pilot faces delays

Russia’s digital ruble pilot, originally scheduled to commence on April 1, 2023, has reportedly experienced delays due to legislative processes. The latest legislative amendments indicate a significant focus on enabling non-resident access. Other legal changes raise questions about data encryption and enforcement actions. The legal approval for the CBDC is now anticipated by the end of July, 2023. [Read more at Interfax]

Binance Pay sees growing interest in Africa, South Asia and Independent States

African, South Asian and Commonwealth of Independent States countries are using Binance Pay as a means to bridge cryptocurrencies as a payment source for goods and services, according to Binance regional business development lead Pakning Luk. Launched in 2021, the payments service has attracted over 120 million users in specific regions as it onboards major online merchant platforms and real-world retailers to its payment rail. Luk highlighted remittance and online shopping as key use cases seen by its user base. [Read more at CoinTelegraph]

Pathways to crypto-asset regulation: a global approach

The World Economic Forum (WEF) published a paper that highlight the needs and challenges in developing a global approach to crypto-asset regulation. In doing so, it delves into the various regulatory approaches being adopted by different jurisdictions. The result of multistakeholder consultations with experts from the Digital Currency Governance Consortium, comprising experts from public authorities, regulators, policy-making bodies, industry and academia, the paper explores pathways to creating a responsible crypto-asset ecosystem globally. [Read more at the WEF]

Colombia holds consultation on open banking

Superfinanciera Colombia is pursuing a consultation on open banking. Feedback is accepted from the public until May 31, 2023. [Read more on LinkedIn]

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Kiffmeister’s #Fintech Daily Digest (20230523)*

May 23, 2023May 23, 2023 ~ kiffmeister ~ Leave a comment

Digital marketplace for Jam-Dex

Jamaica’s Ministry of Industry, Investment, and Commerce has launched a digital marketplace for merchants and residents to interact using the country’s central bank digital currency (CBDC). Its aim is to provide a platform for merchants, who do not have access to debit and credit transaction processing, to use Jam-Dex for payments. The digital marketplace will also facilitate merchants advertising their products. Merchant onboarding has already started and the platform should be operational by the beginning of summer (2023). [Read more at the Jamaican Observer]

IOSCO sets standard for global crypto regulation

The International Organization of Securities Commissions ( IOSCO) issued for consultation detailed principles-based and outcomes-focused recommendations as to how to regulate crypto-assets, aimed at the activities performed by crypto-asset service providers (CASPs). It proposes 18 policy recommendations that IOSCO plans to finalize in Q4 2023 to support greater consistency with respect to regulatory frameworks and oversight in its member jurisdictions. The proposed recommendations do not cover decentralized finance (DeFi). [Read more at IOSCO]

From 1% to 30%: the journey of the Philippines towards responsible digital payments

Digital payments volumes in the Philippines have grown from 1% of total payments in 2013 to 30% in 2021. A Better Than Cash Alliance (BTCA) case study examines this success story by diving into the key decisions made by the government and private sector in accelerating the adoption of responsible digital payments. These included continuous evaluation of progress against transparent targets, proactive policymaking to satisfy evolving needs, and institutionalizing data systems and building internal capacity to collect and analyze data. [Read more at the BTCA]

Indonesia and Malaysia Announce the Commercial Launch of the Cross-Border QR Payment Linkage

Bank Indonesia (BI) and Bank Negara Malaysia (BNM) launched the Indonesia-Malaysia cross-border QR payment linkage on May 8, 2023. This follows from the successful completion of the pilot phase announced on January 27, 2022. The full launch sees the number of participating financial institutions, including non-banks, increase. This will enable more Indonesians and Malaysians to make instant retail payments in either country by scanning Quick Response Code Indonesian Standard or Malaysian DuitNow QR codes at physical stores or online merchants. [Read more at the BI]

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor

Kiffmeister’s #Fintech Daily Digest (20230521)*

May 21, 2023May 21, 2023 ~ kiffmeister ~ Leave a comment

2nd Bank of Canada and Sveriges Riksbank conference on CBDC economics

The Riksbank will host a joint conference with the Bank of Canada on the “Economics of Central Bank Digital Currency (CBDC)” November 16-17, 2023 in Stockholm. In addition to presentation of academic papers on CBDC and payment innovations, the conference will feature a keynote address by Franklin Allen (Imperial College London), a distinguished policy panel, and a poster session. Participation in the conference is by invitation only. [Download the call for papers at the Riksbank]

Demand for tokenized US Treasury securities soars

Demand for tokenized versions of U.S. Treasury bonds is soaring as rising yields in traditional financial markets attract fresh capital from crypto investors. The combined market capitalization of tokenized money market funds nears $500 million, and has quadrupled in size this year. Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) – which gives a BENJI token on the Stellar blockchain representing one share – grew to $276 million in assets at end-April. Ondo Finance’s OUSG and Matrixdock’s SBTB tokenized short-term Treasury security products , have grown to $132 million and $72 million of funds so far, respectively. [Read more at CoinDesk]

The digital euro: a precautionary device, not a deus-ex-machina

The Leibniz Institute for Financial Research Sustainable Architecture for Finance in Europe (SAFE) published a paper that concludes that the risks and imponderables do not favor the launch of a digital euro if that decision had to be made now. However, there may be future circumstances in which having a CBDC ready for use may be useful. For example, there could be an unexpected collapse in the availability of banknotes or sudden switches in consumer preferences towards payment instruments which current infrastructures cannot easily handle with the available technologies. Or we could experience phases of financial instability requiring the central bank to back up the private sector in order to preserve the functionality of the payment system. Or, there could be strategic security conditions necessitating more state-driven payment infrastructures. All these are unlikely scenarios, but not impossible ones, which would lead to the need for central banks to step in, perhaps in a short time. Therefore, preparing is a good thing, even if the odds of its usefulness in normal conditions are slim. [Read more at SAFE]

Payments are a utility and critical infrastructure

David Birch calls radical rethinking about payment infrastructure , like allowing more direct access to the pipes, provide digital fiat (dollars with an API) as a public good and allow non-credit creating payment banks/ institutions/ utilities to implement the transfers in space as a utility bringing value together (electronic money and digital cash) to put in place robust, inclusive and sustainable pipes for the rest of the economy to use. Let banks focus on creating credit and let them find other ways to stay in the transaction loop. [Read more on David Birch’s blog]

Project Leap: Quantum-proofing the financial system

Earlier this month (May 2023) the Bank for International Settlements (BIS) together with the Banque de France and Deutsche Bundesbank, launched Project Leap to build quantum-resistant IT environments for the financial system. It will test the implementation of post-quantum cryptographic protocols in central bank processes, and help to advance the central banking community’s knowledge of post-quantum cryptography. A concluding report and the accompanying technical architecture will be published. [Read more at the BIS]

Upcoming conferences, webinars and speaking engagements:

I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
I’ll be lecturing at the Digital Euro Association (DEA) Digital Money Academy on July 27, 2023. [Register here]

Kiffmeister’s global central bank digital currency monthly monitor