DFC

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FEI Stablecoin Hits Target for First Time, 1 Month After Launch
FEI Stablecoin Hits Target for First Time, 1 Month After Launch
"It took a month and a day, but the FEI stablecoin has finally hit its target price of $1. Since its debut on April 3, FEI has mostly traded below its goal of parity with the U.S. dollar. From April 7 to April 20, it stayed below $0.80, more than 20% off its peg. Things started to turn around on April 20, when the price began to rise toward the goal. Tuesday morning, FEI finally hit $1. It remains to be seen if FEI can hold this price."
#Fintech#CryptoAssets#Stablecoins#DFC
·coindesk.com·
FEI Stablecoin Hits Target for First Time, 1 Month After Launch
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
The Digital Dollar Project (DDP) will launch at least five pilot programs over the next 12 months with interested stakeholders and DDP participants to measure the value of and inform the future design of a U.S. central bank digital currency (CBDC), or “digital dollar.” The selection process is already underway, with the first three to be announced within the next two months. The DDP intends to make its CBDC test ground transparent and accessible to all stakeholders, public and private.
#Fintech#CryptoAssets#CBDC#DFC
·newsroom.accenture.com·
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
Bank runs and central bank digital currency
Bank runs and central bank digital currency
This historical study shows that the bank run risk associated with central bank digital currency (CBDC) is quite real, but it can be mitigated with holding limits. The study looked back to the Great Depression of 1930-1931, when French savers had a safe alternative to banks in the form of government-backed savings institutions (caisses d’épargne ordinaires, or CEOs). CEOs were not allowed to lend nor to provide payment services - they were effectively a source of funds for the government. Interest rates paid on CEO deposits were regularly higher than those paid by commercial banks to their depositors, and perversely, in March 1931, the limits on CEO deposits was increased from 12,000 to 20,000 francs for individuals and 50,000 to 100,000 for firms. Not surprisingly there were bank runs that the study suggests explaned one-third of the drop in real GDP in 1930-31.
#Fintech#CryptoAssets#CBDC#DFC
·voxeu.org·
Bank runs and central bank digital currency
Project New Dawn: A Digital Cash Infrastructure for All
Project New Dawn: A Digital Cash Infrastructure for All
EMTECH-spearheaded Project New Dawn (PND) is a technical implementation of a retail central bank digital currency (CBDC) that runs on an Ethereum-based platform. PND is also working with the Hedera Hashgraph Network, to develop further understanding how to use interoperability to provide trust in the private sector part of the two-tiered CBDC network. https://futuremtech.com/central-bank-digital-cash/
#Fintech#CryptoAssets#CBDC#Hashgraph#Ethereum#Hedera#DFC
·projectnewdawn.info·
Project New Dawn: A Digital Cash Infrastructure for All
LUGH Introduces EUR-L Stablecoin, Backed By Deposits Held By Société Générale
LUGH Introduces EUR-L Stablecoin, Backed By Deposits Held By Société Générale
In March, French startup Lugh launched a new Euro stablecoin (EUR-L) backed by deposits held in a Societe Generale bank account and currently available on the French crypto exchange Coinhouse. EUR-L is issued on the Tezos blockchain, and Lugh reports that users will be able to access monthly reports regarding their reserves, validated by a global accounting firm.
#Fintech#CryptoAssets#Stablecoins#DFC
·coinmarketcap.com·
LUGH Introduces EUR-L Stablecoin, Backed By Deposits Held By Société Générale
Principles for CBDC Technical Implementation
Principles for CBDC Technical Implementation
This paper from Digital Asset Holdings co-written by Stanford University's Darrell Duffie provides a high level overview of some central bank digital currency (CBDC) principles and key factors supporting them that should be considered when choosing and implementing a suppporting technology. The challenge of creating and implementing CBDC is large and complex, requiring addressing current challenges, while facilitating future innovation and support yet-to-be known requirements and opportunities. The ability to start small, facilitate wide adoption, evidence controls, and maintain flexibility to maximize growth are essential. The paper particularly emphasizes the key requirements of privacy protection and interoperability.
#Fintech#CryptoAssets#CBDC#DFC
·darrellduffie.com·
Principles for CBDC Technical Implementation
National Bank of Georgia Considering Launching a Retail Digital Gel
National Bank of Georgia Considering Launching a Retail Digital Gel
The National Bank of Georgia (NBG) is considering launching a digital version of its national currency, the Lari (Gel). The NBG will use its Open Regulatory Framework tools, to facilitate the retail central bank digtital currency (CBDC) development process. Rapid live testing in a controlled environment should enable the agile development of CBDC technology and an impetus to develop underlying technology to full potential, enhancing risk management and user experience. Interaction with the RegLab should also help NBG to develop its regulatory approach and update legal framework to enable smooth and sustainable CBDC technology operation.
#Fintech#CryptoAssets#CBDC#DFC
·nbg.gov.ge·
National Bank of Georgia Considering Launching a Retail Digital Gel
Tether Releases Most Recent Independent Assurance Opinion Confirming Tether’s Reserves Fully Backed | Tether
Tether Releases Most Recent Independent Assurance Opinion Confirming Tether’s Reserves Fully Backed | Tether
"Tether Holdings Limited made available its Consolidated Reserves Report for March 31, 2021 and an accompanying assurance opinion by Moore Cayman attesting that the information is accurate. It is our plan to release Consolidated Reserves Reports and related assurance opinions on a quarterly basis."
#Fintech#CryptoAssets#Stablecoins#Tether#DFC
·tether.to·
Tether Releases Most Recent Independent Assurance Opinion Confirming Tether’s Reserves Fully Backed | Tether
EIB issues its first ever digital bond on a public blockchain
EIB issues its first ever digital bond on a public blockchain
As reported a few days ago, the European Investment Bank (EIB) launched a €100 million digital bond issuance on an Ethereum-based public blockchain platform. The EIB has now confirmed that it paid the three underwriters (Goldman Sachs, Santander and Societe Generale) using Banque de France-issued wholesale central bank digital currency (CBDC). Societe Generale – FORGE provided the end-to-end services to issue and manage the digital-native security tokens.
#Fintech#Blockchain#Settlement#CBDC#DFC
·eib.org·
EIB issues its first ever digital bond on a public blockchain
Multi-CBDCs: Designing a digital currency stack for governability
Multi-CBDCs: Designing a digital currency stack for governability
m-CBDC arrangements are most effective and efficient if the multiple CBDCs are hosted on the same infrastructure and platform. But this runs into a significant governance challenge: some central banks will be unwilling to share their CBDC infrastructure with certain other central banks, and some central banks may not be willing to share their infrastructure with anyone at all. One possible solution would be to “unbundle” the digital currency stack to improve governability of m-CBDC networks and create a viable path towards making m-CBDC arrangements a reality. This article will briefly explore the concept of a digital currency stack, with the aim of encouraging further discussion, collaboration and co-creation.
#Fintech#CryptoAssets#CBDC#CrossBorder#DFC
·opennodes.com·
Multi-CBDCs: Designing a digital currency stack for governability
Bank of Jamaica launches a contest to name its CBDC
Bank of Jamaica launches a contest to name its CBDC
The Bank of Jamaica seeks interested persons to propose a suitable name, tagline, logo and image for its new central bank digital currency (CBDC). "The logo and representative design should be distinctive, attractive, and adequately represent the CBDC as a safe and convenient digital alternative to cash."
#Fintech#CryptoAssets#CBDC#DFC
·boj.org.jm·
Bank of Jamaica launches a contest to name its CBDC
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
"In the specific case of a currency engineered for customizable demurrage, pernicious applications come to mind immediately. The extent to which those are realizable, however, pivots upon a degree of theorizing as to how “targetable” the programmed change of purchasing power will be. (Because such a system will ultimately require the elimination of cash to be fully effective, the warnings associated with a closely-related unconventional monetary policy, negative interest rates, apply here as well.)"
#Fintech#CryptoAssets#CBDC#Gesell#DFC
·aier.org·
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
Breaking the buck
Breaking the buck
"In the crypto markets there are no MMFs. But they have a close equivalent—private sector stablecoins. For cryptocurrency investors, traders and financiers, digital asset tokens like Tether (USDT) and Circle (USDC) perform the same function as dollar-pegged money market funds in the legacy system."
#Fintech#CryptoAssets#Stablecoins#Tether#USDC#DFC
·newmoneyreview.com·
Breaking the buck
What triggers consumer adoption of CBDC?
What triggers consumer adoption of CBDC?
This De Nederlansche Bank surveyed a representative panel of Dutch consumers to determine public preferences regarding central bank digital currency (CBDC) demand. It found that roughly half would open a CBDC current or savings account, suggesting that consumers perceive CBDC as distinct from current and savings accounts offered by traditional banks. Intended adoption is positively related to respondents’ knowledge of CBDC and trust in banks and in the central bank, but the amount respondents want to deposit in the CBDC savings account depends on the interest rate offered. Furthermore, intended usage of the CBDC current account is highest among people who find privacy and security important and among consumers with low trust in banks in general.
#Fintech#CryptoAssets#CBDC#DFC
·dnb.nl·
What triggers consumer adoption of CBDC?
The Governance of the CBDC System
The Governance of the CBDC System
"Isn’t decentralization going to put Central Banks’ control of their digital currencies at risk? The answer to this question is no, if the correct design choices of the CBDC governance are put in place. The thing is, only advanced next-gen blockchain technology can support these design features. Under these conditions, the case can be made that the control of the CBDC system, the monitoring capabilities of a Central Bank, as well as the flexibility of policy implementation are even increased by a blockchain based approach."
#Fintech#CryptoAssets#CBDC#DFC
·algorand.com·
The Governance of the CBDC System
Tether's market cap tops $50 billion, supply on Tron surpasses Ethereum
Tether's market cap tops $50 billion, supply on Tron surpasses Ethereum
The market capitalization of Tether (USDT) stablecoin has crossed the $50 billion mark, with the supply on Tron's blockchain ($26 billion) exceeding that on Ethereum's ($24.4 billion), because ransaction fees are lower, and confirmation times faster on Tron. Most of the Tron-based Tether's supply is on the lightly-regulated Binance, Huobi, and OKEx platforms. USDT remains the largest stablecoin by market capitalization, with about 66% market share, followed by USDC (17%) and BUSD (9%).
#Fintech#CryptoAssets#Stablecoins#Tether#Tron#Ethereum#DFC
·theblockcrypto.com·
Tether's market cap tops $50 billion, supply on Tron surpasses Ethereum
Ant Group and Tencent work with China's central bank to push forward digital yuan
Ant Group and Tencent work with China's central bank to push forward digital yuan
The Digital Currency Research Institute of the People's Bank of China (PBOC) reportedly signed a technical strategic cooperation agreement with Ant Group to move forward with the development of the digital yuan based on Ant Group's database, Ocean Base, and the mobile development platform, mPaaS. Tencent is also supporting and participating in digital yuan design, research, development and operational work.
#Fintech#CryptoAssets#CBDC#China#DFC
·globaltimes.cn·
Ant Group and Tencent work with China's central bank to push forward digital yuan
The post-genesis state of the Fei Protocol
The post-genesis state of the Fei Protocol
"After almost three rocky weeks for the Fei Protocol, the total value held by genesis participants has decreased significantly. What is important is that the distribution has stabilized relative to wallet size, so there are not as many clear outliers as during Fei genesis."
#Fintech#CryptoAssets#Stablecoins#DFC
·cointelegraph.com·
The post-genesis state of the Fei Protocol
Coinbase lists tether, the world’s dodgiest stablecoin
Coinbase lists tether, the world’s dodgiest stablecoin
"Coinbase... [will be] listing tether (USDT), the world’s dodgiest stablecoin. Tethers... are a stand-in for real dollars, used mainly on offshore crypto exchanges that can’t get proper banking... Coinbase only supports ERC-20 USDT, a reference to the nearly 24 billion tethers that live on the Ethereum blockchain. (Another 26 billion are on Tron, with a smattering on Omni, Algorand, EOS, Liquid, SLP, and Solana.) At the moment, you can only transfer USDT onto Coinbase; you cannot move tethers off the exchange."
#Fintech#CryptoAssets#Stablecoins#Tether#DFC
·amycastor.com·
Coinbase lists tether, the world’s dodgiest stablecoin
Korea's big blockchain Klaytn eyes CBDC, partners with ConsenSys
Korea's big blockchain Klaytn eyes CBDC, partners with ConsenSys
Korean public blockchain Klaytn announced it has partnered with Ethereum developer ConsenSys to advance its central bank digital currency (CBDC) efforts. Klaytn was founded by Ground X, a subsidiary of Kakao, which operates Korea’s largest social network of over 50 million users. Last October, the Bank of Korea acknowledged it was discussing central bank digital won with Klaytn amongst other private players.
#Fintech#CryptoAssets#CBDC#Ethereum#DFC
·ledgerinsights.com·
Korea's big blockchain Klaytn eyes CBDC, partners with ConsenSys
Tether (USDT) is launching on Coinbase Pro
Tether (USDT) is launching on Coinbase Pro

"Starting Today Thursday April 22, transfer USDT into your Coinbase Pro account ahead of trading. Support for USDT will generally be available in Coinbase’s supported jurisdictions, with the exception of New York State. Trading will begin on or after 6PM Pacific Time (PT) Monday April 26, if liquidity conditions are met. Please note that Coinbase only supports ERC-20 USDT running on the Ethereum blockchain. "

#Fintech#CryptoAssets#Stablecoins#Tether#Ethereum#DFC
·blog.coinbase.com·
Tether (USDT) is launching on Coinbase Pro
Norges Bank will test technical solutions for central bank digital currency
Norges Bank will test technical solutions for central bank digital currency
In line with the recommendations of an internal working group, Norges Bank will test various technical solutions for a central bank digital currency (CBDC) over the next two years. One of the aims of technical testing is to find a preferred solution if it becomes relevant to introduce a CBDC in Norway. Any introduction of a CBDC will still lie some time in the future. The consultative report is currently available in Norwegian only, but an English translation will be published soon.
#Fintech#CBDC#CryptoAssets#DFC
·norges-bank.no·
Norges Bank will test technical solutions for central bank digital currency
Is Tether a $48 billion scam?
Is Tether a $48 billion scam?
"The question remains as to why Tether management still refuses to provide more transparency. If indeed the company has nothing to hide, putting all questions to rest is astonishingly easy: move the money to a select pool of large well-known banks, and have the statements properly audited by a select pool of large well-known auditing firms. Commit to performing and documenting funds certification for example quarterly and that’s it, you’re done. If Tether wanted to go a step further it could also disclose the investment strategy (or lack thereof) it pursues with the cash under its responsibility. In my mind there can be only one reason why the firm doesn’t follow those very simple steps."
#Fintech#CryptoAssets#Stablecoins#Tether#DFC
·tabbforum.com·
Is Tether a $48 billion scam?