DFC

5260 bookmarks
Newest
Student Safe: the Magyar Nemzeti Bank’s retail CBDC pilot project
Student Safe: the Magyar Nemzeti Bank’s retail CBDC pilot project
Magyar Nemzeti Bank (MNB) published a white paper on its Student Safe central bank digital currency (CBDC) pilot project, which was launched in May 2023 and phased out in February 2025. The aim was to create a CBDC environment that is not only secure and regulated, but also flexible and user-friendly. The Student Safe offered free of charge and secure digital payment solutions to support the financial inclusion of 8-14 year olds. It provided users with the opportunity to learn the theory and practice of digital finance basics through a combination of quizzes and mobile banking functions. Going forward, the MNB will examine possible motivations and emerging use cases that could be relevant to the Student Safe user base or to another group of consumers.
#Fintech#CBDC#Hungary#DFC
·mnb.hu·
Student Safe: the Magyar Nemzeti Bank’s retail CBDC pilot project
Preliminary design for the digital shekel system
Preliminary design for the digital shekel system
The Bank of Israel (BOI) published a paper on its preliminary digital shekel (DS) ecosystem design thinking for public and professional community feedback. It covers the basic and advanced user journey, architecture and technical issues, and various aspects of policy, rules, and regulation. A prospective DS will be a universal means of payment that would be free for private users (for businesses, the costs of using it are expected to be significantly lower than existing digital payments). The DS will support offline payments, allowing payments even in situations without network connectivity. Anonymous payments would be possible but in limited amounts. Access to personal identifiable information about user DS balances and activities will not be available to the BOI, but they will be to payment service providers, like with existing digital payment methods.
#CBDC#Fintech#Israel#Offline#DFC
·boi.org.il·
Preliminary design for the digital shekel system
The GENIUS Act: Insolvency Risk with Stablecoins
The GENIUS Act: Insolvency Risk with Stablecoins
The GENIUS Act tries to mitigate credit risk on stablecoins by declaring their property of the investor vis-a-vis custodians, and prioritizing the investors' claims vis-a-vis creditors of the issuer. But neither is really a fix, and the truth is that absent a government guaranty, there's no way around this problem. No matter how much stablecoins are prioritized in bankruptcy, bankruptcy is a slow process, and time is money. And there are limits to how far stablecoins can be prioritized in bankruptcy without rendering the bankruptcy system unworkable. (Making stablecoins the property of the investors is no help in an issuer bankruptcy because all the investor gets is a digital token that is worthless without the redemption right, and that's just a bankruptcy claim; this is different than in the custodian bankruptcy scenario.) The only real way to ensure 100% timely repayment is a government backstop, but that's not something the industry wants (because it goes with regulation). (Adam Levitin)
e
#CryptoAssets#Stablecoins#Regulation#UnitedStates#Fintech#DFC
·creditslips.org·
The GENIUS Act: Insolvency Risk with Stablecoins
Bank of Russia to postpone digital ruble launch
Bank of Russia to postpone digital ruble launch
The Bank of the Russia has postponed the launch of the digital ruble from July 2025 to a later date to be determined. According to Governor Elvira Nabiullina the central bank needs more time to work out all the details in the pilot and hold all consultations with banks on the economic model that is most attractive to customers. 15 banks, 1,700 citizens and about 30 companies have taken part in the pilot that started in August 2023.
#Russia#CBDC#Fintech#DFC
·cbr.ru·
Bank of Russia to postpone digital ruble launch
Banco Central do Brasil (BCB) Drex pilot update
Banco Central do Brasil (BCB) Drex pilot update
Banco Central do Brasil (BCB) published a technical report on the first phase of the Drex wholesale central bank digital currency (CBDC) pilot that focused on testing the use of tokenized deposits. The platform used was a private, permissioned version of the Ethereum blockchain. The pilot involved the participation of 16 financial institutions, which were selected from a pool of 36 candidates. The pilot tested a range of use cases, including the issuance and transfer of tokenized deposits, as well as the settlement of transactions involving tokenized government bonds. The BCB found a tough “trilemma” between privacy, programmability, and oversight. Advanced cryptography (like zero-knowledge proofs) can hide transaction details to protect user privacy, but this also makes it hard for regulators to monitor illicit activity, or even for the system to run complex smart contracts. The next phase of the pilot program, which started in November 2024, is focusing on advancing privacy while allowing pilot participants to suggest more use cases. See also: https://www.ledgerinsights.com/drex-privacy/
#Brazil#CBDC#DLT#wCBDC#Tokenization#Settlement#Fintech#DFC#DepositTokens
·bcb.gov.br·
Banco Central do Brasil (BCB) Drex pilot update
CBDC Cash. The Evolution of Cash Protection
CBDC Cash. The Evolution of Cash Protection
The evolution of cash should provide each User with the ability to instantly authenticate a banknote at any time. To do this, it is necessary not only to develop the ability to conveniently, quickly and practically unnoticeably check banknotes for the User, but also to interest the entir e population of the country in regularly conducting such checks. Modernization of central bank cash with Blockchain technology is the optimal solution to this problem, which will allow the population of the country not only to check the legitimacy of each banknote, but also to carry out digital transactions using hybrid banknotes, during which the legitimacy of cash will always be checked in the background.
#CBDC#Cash#Fintech#Blockchain#DFC
·researchgate.net·
CBDC Cash. The Evolution of Cash Protection
Reflections on a maturing stablecoin market
Reflections on a maturing stablecoin market
U.S. Federal Reserve Board (FRB) Governor Christopher J. Waller spoke about the maturing stablecoin market and the potential challenges that could impede it from reaching its full potential. Stablecoins must demonstrate not only clear use cases, but also a clear commercial case to be economically viable. Plus, the public sector needs to set clear and targeted legal and regulatory frameworks and coordinate those frameworks across states and national boundaries to enable private sector innovation at a global scale.
#Stablecoins#Regulation#UnitedStates#CryptoAssets#Fintech#DFC
·federalreserve.gov·
Reflections on a maturing stablecoin market
Figure launches SEC regulated, yield bearing stablecoin
Figure launches SEC regulated, yield bearing stablecoin
Figure Markets has launched YLDS, a public blockchain-based interest-bearing stablecoin that is reportedly registered as a public security with the U.S. Securities and Exchange Commission (SEC). YLDS accrues interest daily based on the U.S. Federal Reserve's Secured Overnight Financing Rate (SOFR) minus 0.50% with a 0.00% minimum, and pays monthly in USD or YLDS. YLDS is backed by the same securities that prime money market funds hold, which are riskier than securities that money market funds hold, because ‘Prime’ means including private assets such as asset backed securities, not just government securities. Also, YLDS’ assets are not ringfenced: “Figure Certificates are unsecured and solely backed by the assets of Figure Certificate Company (FCC), who is the issuer of the Certificates”.
#CryptoAssets#Fintech#Regulation#Stablecoins#UnitedStates#DFC
·ledgerinsights.com·
Figure launches SEC regulated, yield bearing stablecoin
BearingPoint survey on European payment behavior
BearingPoint survey on European payment behavior
BearingPoint published the latest edition of its European Payment Study, based on an online survey of 10,222 people aged 18 and over in nine countries. It shows that in Germany, Austria, and Switzerland, cash remains the most frequently used payment method, accounting for 69%, 73% and 57% of transactions, respectively. In contrast, the Nordic countries, particularly Sweden with 28% and Denmark with 35%, show significantly lower cash usage. Overall, the survey reveals that the frequency of cash usage has declined in almost all surveyed countries compared to the previous year. The digital euro has achieved relatively high awareness, with only one-third of respondents having never heard of it. Online shopping is the preferred use case for the digital euro, with an average of 37% across countries. Being free of charge (43%) and accepted everywhere (37%) are the leading objective requirements.https://www.linkedin.com/posts/grossjonas_study-d-activity-7303323611447123968-z7HQ/
#Cash#Europe#Payments#Fintech#DFC#CBDC
·bearingpoint.com·
BearingPoint survey on European payment behavior
Figure launches yield-bearing SEC-registered stablecoin
Figure launches yield-bearing SEC-registered stablecoin
Figure Markets has launched YLDS, a public blockchain-based interest-bearing stablecoin that is reportedly registered as a public security with the U.S. Securities and Exchange Commission (SEC). YLDS accrues interest daily based on the U.S. Federal Reserve’s Secured Overnight Financing Rate (SOFR) minus 0.50% with a 0.00% minimum, and pays monthly in USD or YLDS. Holders can buy/sell YLDS using USD and other stablecoins 24x7 on Figure Markets, and can off-ramp to fiat during US banking hours. YLDS can be transferred peer-to-peer on the Provenance Blockchain. YLDS is backed by the same securities that prime money market funds hold. https://www.newyorkfed.org/markets/reference-rates/sofr https://www.figuremarkets.com/c/ylds https://www.investopedia.com/articles/mutualfund/10/a-safer-money-market-2a7.asp
#Fintech#CryptoAssets#Stablecoins#Regulation#UnitedStates#DFC
·prnewswire.com·
Figure launches yield-bearing SEC-registered stablecoin
Eurosystem expands initiative to settle DLT-based transactions in central bank money
Eurosystem expands initiative to settle DLT-based transactions in central bank money
The European Central Bank (ECB) will expand its initiative to settle transactions on distributed ledger technology (DLT) platforms in central bank money. First, it will develop and implement a safe and efficient platform for such settlements through an interoperability link with the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET) system. Perhaps these could include the Deutsche Bundesbank “trigger solution” or the Banca d’Italia’s TARGET Instant Payment System (TIPS) Hashlink solution, both of which were tested in recent ECB-run trials. Second, the ECB will look into a more integrated, long-term solution, perhaps based on the Banque de France wholesale central bank digital currency (CBDC) solution, also tested in the ECB trials. https://www.ecb.europa.eu/paym/integration/distributed/exploratory/html/index.en.html
#ECB#DLT#Settlement#Eurozone#CBDC#wCBDC#Tokenization#Fintech#DFC
·ecb.europa.eu·
Eurosystem expands initiative to settle DLT-based transactions in central bank money
Study on the Israeli Public's Willingness to Adopt a Digital Shekel
Study on the Israeli Public's Willingness to Adopt a Digital Shekel
The Bank of Israel (BOI) published the results of a survey of public willingness to adopt a digital shekel. 34% of respondents showed a very high interest in using a digital shekel (8 to 10 on a scale of 1 to 10), 17% expressed medium-high interest (6 to 7) and 37% showed low interest (1-5). The survey also examined what features of the digital shekel may increase its use.  Prominent among them was customer protection against fraud and system errors, the possibility of remuneration, and zero fees for basic functions.  In contrast, the main concerns raised by the survey participants were cybersecurity and information security risks, difficulty of use, and lack of accessibility for certain population groups.  Unlike findings in some other countries, privacy concerns did not emerge as a dominant issue. Men showed higher interest than women in the digital shekel, and interest was positively correlated with age and with income level.
#CBDC#Fintech#Israel#DFC
·boi.org.il·
Study on the Israeli Public's Willingness to Adopt a Digital Shekel
Ripple revamps website: no mention of CBDC
Ripple revamps website: no mention of CBDC
Ripple has unveiled a major redesign of its website, wiping out any mention of central bank digital currency (CBDC). Ripple said they have a “new look” in its products that reflects a refocus on building for the firm’s “next chapter” with a focus on the “internet of value” and transforming the way value moves around the world. Ripple has been a major player in the CBDC space, launching a complete CBDC and stablecoin platform in 2023, and advising countries like Colombia, Bhutan, Palau, Montenegro in their CBDC projects. In 2023, Ripple launched its CBDC platform for the development of CBDCs and stablecoins. https://x.com/ripple/status/1890489428809863170 https://ripple.com/
#Ripple#CBDC#Stablecoins#CryptoAssets#Fintech#DFC
·u.today·
Ripple revamps website: no mention of CBDC
Namibia: Retail Central Bank Digital Currency Exploration and Roadmap
Namibia: Retail Central Bank Digital Currency Exploration and Roadmap
The IMF published a high-level report on central bank digital currency (CBDC) technical assistance (TA) provided to the Bank of Namibia (BoN) in early 2024. The mission assisted the authorities in establishing the groundwork for a feasibility study and drafting a roadmap for the BoN's CBDC exploration. The mission also reviewed requirements for retail CBDC issuance, including institutional capacity, technology, cybersecurity, and legal foundations. The mission recommended the BoN assess how retail CBDC can improve the payment systems and financial inclusion in Namibia compared to alternative solutions. The authorities are advised to establish a compelling rationale for retail CBDC before embarking on a more resource-intensive undertaking. The mission suggested that the BoN continue developing expertise and capacity in retail CBDC across policy, technology, and legal domains, including through continued engagement with stakeholders. https://www.imf.org/en/Publications/technical-assistance-reports/Issues/2025/02/12/Namibia-Technical-Assistance-Report-Retail-Central-Bank-Digital-Currency-Exploration-and-561985
#Fintech#CBDC#Namibia#IMF#DFC
·imf.org·
Namibia: Retail Central Bank Digital Currency Exploration and Roadmap
Improving instant cross-border payments using CBM settlement
Improving instant cross-border payments using CBM settlement
The Bank for International Settlements (BIS) published an update on Project Rialto, which is exploring connecting instant payment systems (IPSs) across borders using central bank money (CBM) on a tokenized platform and an automated foreign exchange (FX) conversion layer. Such integration raises some specific challenges and design considerations, which will be addressed in the development phase and form an integral part of the project’s contributions to improving cross-border payments. This report identifies the main policy and technical aspects to be considered, with the next steps being to develop at proof of concept.
#BIS#CBDC#Fintech#CrossBorder#Payments#FastPayments#FX#wCBDC#DFC
·bis.org·
Improving instant cross-border payments using CBM settlement
CBDCs: It’s time for action
CBDCs: It’s time for action
The Official Monetary and Financial Institutions Forum (OMFIF) published a report on how central banks’ opinions on issuing a retail central bank digital currency (CBDC) are evolving, based on a survey of 34 central banks. Three-quarters of central bank survey respondents expect to issue a CBDC. Where 34% expect to issue one in 3-5 years, 91% have done or will conduct feasibility studies. Financial inclusion and preserving central bank monetary sovereignty are the leading motivations for emerging market central banks (44%) and developed market central banks (50%), respectively. Previously ranked as the most challenging feature to deliver, 20% of surveyed central banks report improved satisfaction with progress in offline payments, up from 0% in 2023. https://pdf.omfif.org/view/5iNpl1SEj
#CBDC#Fintech#OMFIF#DFC
·omfif.org·
CBDCs: It’s time for action
Former CFTC chair Massad critiques House stablecoin legislation
Former CFTC chair Massad critiques House stablecoin legislation
Timothy Massad, former Chair of the Commodities and Futures Commission (CFTC), has provided a detailed critique of the STABLE Act, the U.S. House of Representative's stablecoin bill. (The Senate also has the GENIUS Act Bill which is somewhat similar.) https://docs.house.gov/meetings/BA/BA21/20250211/117872/HHRG-119-BA21-Wstate-MassadT-20250211.pdf
#Fintech#CryptoAssets#Stablecoins#UnitedStates#Regulation#DFC
·ledgerinsights.com·
Former CFTC chair Massad critiques House stablecoin legislation
Wholesale CBDC as a Monetary Policy Tool
Wholesale CBDC as a Monetary Policy Tool
This article explores how central banks can use central bank digital currencies (CBDCs) as a monetary policy tool in countries with rigid exchange rate pegs. One potential consequence of monetary policy under these conditions is an excess of reserves in the banking system, which can be amplified by sudden influxes of foreign capital. irst, it puts pressure on the currency peg. To relieve this pressure, the central bank absorbs foreign liquidity by increasing its foreign reserves. However, this injects local currency into the economy, increasing the money supply and potentially pushing inflation above the target level. Additionally, consistent excessive reserves in the banking system can seize up the interbank market, as banks opt to place excess funds in deposits with the central bank. This dynamic pushes the interbank rate toward the base (policy) rate, creating a stable but sub-optimal situation.
#CBDC#Fintech#wCBDC#MonetaryPolicy#DFC
·linkedin.com·
Wholesale CBDC as a Monetary Policy Tool
The Role of ISO 20022 in CBDCs
The Role of ISO 20022 in CBDCs
In the rapidly evolving world of digital currencies, ISO 20022 emerges as a critical framework that could revolutionize how CBDCs communicate, ensuring seamless interoperability, robust security, and efficient cross-border transactions. By providing a flexible, standardized approach to financial messaging, ISO 20022 holds the potential to transform the global financial landscape, making digital currency exchanges as smooth as sending an email (but with monetary value attached).
#CBDC#Fintech#ISO20022#DFC
·linkedin.com·
The Role of ISO 20022 in CBDCs
CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot
CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot
The Commodity Futures Trading Commission will hold a CEO Forum of industry-leading firms to discuss the launch of the CFTC’s digital asset markets pilot program for tokenized non-cash collateral such as stablecoins. Participants will include Circle, Coinbase, Crypto.com, MoonPay and Ripple. Further information on the CEO Forum will be released once details are finalized.
#CryptoAssets#Regulation#Fintech#Tokenization#Stablecoins#UnitedStates#DFC
·cftc.gov·
CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot
House publishes draft Stablecoin Bill - comparison with Senate GENIUS Bill
House publishes draft Stablecoin Bill - comparison with Senate GENIUS Bill
A discussion draft of the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Bill was tabled in the U.S. House of Representatives by French Hill and Bryan Steil. It is substantially similar to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Bill published by the Senate earlier in the week. For example, GENIUS Bill requires that stablecoins with more than $10 billion outstanding be federally regulated, unless the relevant state framework is substantially similar to the federal one, but the STABLE Bill allows large stablecoins to remain state regulated. https://files.constantcontact.com/9f2b5e3d701/6c1f8aa0-095c-4a22-9982-2f4380d0b531.pdf
#CryptoAssets#Fintech#Regulation#Stablecoins#UnitedStates#DFC
·ledgerinsights.com·
House publishes draft Stablecoin Bill - comparison with Senate GENIUS Bill
R3 and IDEMIA collaborate on offline CBDC payments
R3 and IDEMIA collaborate on offline CBDC payments
R3 has partnered with IDEMIA Secure Transactions (IST) to integrate offline payment capabilities into its digital currency platform. The collaboration aims to support the development of central bank digital currencies (CBDCs) by enabling secure transactions both online and offline on R3’s Corda blockchain-based system. According to R3, the integration allows users to maintain network control while ensuring interoperability across different digital financial networks. https://r3.com/r3-partners-with-idemia-secure-transactions-to-transform-cbdc-payments-both-online-and-offline/
#CBDC#Fintech#Offline#IDEMIA#R3#Blockchain#DFC
·thepaypers.com·
R3 and IDEMIA collaborate on offline CBDC payments
Papua New Guinea progresses CBDC explorations
Papua New Guinea progresses CBDC explorations
The Bank of Papua New Guinea (BPNG) presented the results of its digital kina central bank digital currency (CBDC) proof-of-concept (POC) experimentation. The POC simulated the core functions of a digital currency system and staff from the BPNG, Japan International Cooperation Agency and the Japanese Embassy tested digital payments, and transaction security, under controlled conditions. Further studies will broaden the scope to engage more financial institutions and explore cross-border payments with neighboring countries. https://www.bankpng.gov.pg/central-bank-digital-currency-cbdc-proof-concept
#Fintech#CBDC#PapuaNewGuinea#DFC
·globalgovernmentfintech.com·
Papua New Guinea progresses CBDC explorations
Central bank digital currency reference architecture
Central bank digital currency reference architecture
The International Telecommunications Union (ITU), a specialized agency of the United Nations responsible for matters related to information and communication technologies, published a report that I co-wrote on a central bank digital currency (CBDC) reference architecture. Its aim is to work towards standardizing how different CBDCs can be evaluated and compared. The report was derived from the ITU's earlier work on digital currency ontological work and is organized around the IMF's “ASAP” model that describes digital asset systems in terms of four functional layers - access, service, asset, and platform. The resulting reference architecture is based on, and informed by, recent CBDC launches, pilots and proofs of concept (i.e., it does not consider prospective future architectures).
#CBDC#Fintech#ITU#Kiffmeister#DFC
·itu.int·
Central bank digital currency reference architecture
National Bank of Georgia launches tokenized deposit sandbox
National Bank of Georgia launches tokenized deposit sandbox
The National Bank of Georgia (NBG) is inviting supervised entities to participate in its Regulatory Sandbox’s tokenized deposits project, the goal of which is to create a regulatory framework with the involvement of stakeholders. The country's financial ecosystem does not currently regulate the use and offering of distributed ledger technology (DLT) based deposits and certificates of deposit (CDs). This project will potentially contribute to the creation of new financial products, the diversity of the financial ecosystem, the development of a CD secondary market, greater flexibility and diversification of deposit products, and optimization of product-related costs.
#Fintech#Regulation#Sandboxes#Tokenization#Georgia#DepositTokens#CryptoAssets#Stablecoins#DFC
·nbg.gov.ge·
National Bank of Georgia launches tokenized deposit sandbox
GENIUS stablecoin Bill allows for State regulation, but limits race to bottom
GENIUS stablecoin Bill allows for State regulation, but limits race to bottom
U.S. Senator Hagerty introduced the Bill for the U.S. Stablecoins (GENIUS) Act, in collaboration with co-sponsor Senators Tim Scott, Kirsten Gillibrand (Democrat) and Cynthia Lummis, aimed at regulating stablecoins by establishing clear issuance procedures and designating federal and state regulators based on the issuer's size. For example, the Bill allows state regulators to supervise payment stablecoins of under $10 billion. Reserve requirements would limit the type of backing collateral to commercial bank deposits, short-term Treasuries, repo and reverse repo involving short-term Treasuries, similar money market funds and central bank reserve deposits. https://www.hagerty.senate.gov/wp-content/uploads/2025/02/GENIUS-Act.pdf
#CryptoAssets#Fintech#Regulation#Stablecoins#DFC
·ledgerinsights.com·
GENIUS stablecoin Bill allows for State regulation, but limits race to bottom
Leverage and Stablecoin Pegs
Leverage and Stablecoin Pegs
The Journal of Financial and Quantitative Analysis will be publishing a paper by Gary Gorton and others on how stablecoins can maintain a constant price even though they face run risk and pay no interest. Stablecoin holders are compensated for stablecoin run risk because they can lend the coins to levered traders. Levered traders are willing to pay a premium to borrow stablecoins when speculative demand is strong. However, when speculative demand falls, stablecoin issuers can keep their debt trading at par only by moving to a safer portfolio or allowing redemptions. Stablecoin issuers will need to make these adjustments quickly to avoid the risk of collapse, which may cause disruptions in the markets they invest in, such as Treasuries, commercial paper, and repos. [Read more at SSRN]
#CryptoAssets#Fintech#Stablecoins#FinancialStability#DFC
·papers.ssrn.com·
Leverage and Stablecoin Pegs
Deka report shows impact of ECB trials on German tokenization
Deka report shows impact of ECB trials on German tokenization
The Eurosystem’s distributed ledger technology (DLT) settlement trials in digital central bank money was associated with a spike in German tokenization, according to Deka Bank. German digital securities issuance in the second half of 2024 totaled €615 million, compared to a total of €235 million cumulatively in up until then. Cashlink and Smart Registry (Nyala), who tend to use public blockchains (mostly Polygon) , were the most prolific issuers, with almost 90 issues between them in 2024. However, in terms of volume, Deka Bank dominated. Deka Bank hosts its tokenized issuance on the SWIAT platform that uses the permissioned Hyperledger Besu blockchain. https://www.deka.de/site/dekade_deka-gruppe_site/get/params_E-283343169/22365381/Deka%20Digital%20Asset%20Monitor_2024.pdf
#DLT#Eurozone#Tokenization#Germany#Fintech#CBDC#wCBDC#Hyperledger#DFC
·ledgerinsights.com·
Deka report shows impact of ECB trials on German tokenization
Digital money and finance: a critical review of terminology
Digital money and finance: a critical review of terminology
By reviewing terminologies, this SUERF policy brief by Ulrich Bindseil and colleagues clarifies the essence of new technologies in the field of payments to facilitate ongoing discussions about their eventual merits and use cases. This is a shortened version of the following paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5007868
#CBDC#CryptoAssets#ECB#Fintech#Stablecoins#Taxonomy#Tokenization#SmartContracts#DFC
·suerf.org·
Digital money and finance: a critical review of terminology
Thai government plans Baht stablecoin backed by gov bonds
Thai government plans Baht stablecoin backed by gov bonds
Thailand’s Ministry of Finance reportedly plans to issue 10 billion baht stablecoins backed by government bonds, initially newly issued ones, in October, 2025. However, it isn't clear whether these will be baht-pegged, or float with the value of the underlying bonds. If it is the latter, this is more like a tokenized bond, rather than a digital currency, scheme. From the press reports, it sounds more like the former, as the Minister of Finance reportedly spoke of them allowing a wider range of individuals to invest, and not just financial institutions or large investors. Also, he said that a central platform for secondary market trading is also being developed to facilitate easier buying and selling of the stablecoin, increasing market liquidity. https://www.nationthailand.com/business/economy/40045739
#Fintech#CBDC#Thailand#Tokenization#GovCoins#Stablecoins#DFC
·ledgerinsights.com·
Thai government plans Baht stablecoin backed by gov bonds