DFC

5259 bookmarks
Newest
Digital Tenge pilot project streamlines VAT reimbursement for exporters
Digital Tenge pilot project streamlines VAT reimbursement for exporters
The National Bank of Kazakhstan (NBK) in collaboration with the State Revenue Committee (Tax Authority) of the Ministry of Finance has launched a Digital Tenge pilot project focused on value-added tax (VAT) reimbursement for exporters. This initiative leverages the programmability of central bank digital currency (CBDC) to automatically mark VAT in business-to-business (B2B) transactions. By doing so, the need for manual checks by tax authorities, is eliminated, significantly streamlining the reimbursement process. It reduced the reimbursement time from 70–75 working days to 10–15 days, with the goal of achieving instant reimbursement in the near future. In total, approximately 40 billion worth of Digital Tenge is now in circulation in the various pilot projects.
#Fintech#CBDC#CrossBorder#Taxation#DFC
·linkedin.com·
Digital Tenge pilot project streamlines VAT reimbursement for exporters
OCBC executes intraday reverse repo using JP Morgan’s Onyx DLT
OCBC executes intraday reverse repo using JP Morgan’s Onyx DLT
Singapore’s OCBC bank executed an intraday reverse repurchase (repo) transaction on JP Morgan’s Onyx Digital Assets platform, in which it lent money to JP Morgan, receiving tokenized securities in exchange. Less than four hours later, the transaction was unwound together with interest. JP Morgan said this was the first time an external counterparty had the ability to execute reverse repos. It’s usually JP Morgan that does the cash lending to clients, taking tokenized securities in exchange. So far it has ten clients using the repo platform, which has conducted a cumulative $1.5 trillion in transactions since its launch in 2020.
#Fintech#Settlement#CryptoAssets#Stablecoins#JPMorgan#ONYX#DFC
·ledgerinsights.com·
OCBC executes intraday reverse repo using JP Morgan’s Onyx DLT
Circle raises fees for large near-instant USDC redemptions
Circle raises fees for large near-instant USDC redemptions
Circle increased the fees it charges for near-instant cash outs of its USDC stablecoin on the Circle Mint platform for the second time in 2024. Circle Mint enables wholesale providers such as exchanges, institutional traders, wallet providers, banks, and large financial institutions to directly redeem USDC 1:1 for USD from Circle. Circle Mint is not available to individuals. All USDC redemptions used to be free and unlimited, but in February 2024 a 0.1% fee on near-instant redemptions above $15 million was imposed on Circle Mint customers. Under the new fee schedule, Circle Mint customers processing more than $2 million net in daily redemptions will incur a fee that starts at 0.03% and increases in tranches to as much as 0.10% for redemptions above $15 million. Basic redemption, which offers a fee-free option, regardless of transaction volume, remains available to all Circle Mint customers as well, but processing can take up to two business days. https://help.circle.com/s/article/USDC-redemption-structure?language=en_US&category=Fees_and_Billing
#Fintech#CryptoAssets#Stablecoins#Circle#USDC#DFC
·bloomberg.com·
Circle raises fees for large near-instant USDC redemptions
BIS Debates Ending mBridge Project
BIS Debates Ending mBridge Project
According to Bloomberg, the Bank for International Settlements (BIS) is debating whether to shut down its wholesale central bank digital currency (CBDC) based mBridge cross-border payment project. The platform initially was developed by the central banks of China, Thailand, Hong Kong and the United Arab Emirates under the BIS’s Innovation Hub, and recently reached the minimum viable product (MVP) stage. The U.S. Federal Reserve has not joined the project. During discussions among central bankers and finance chiefs at the October 2024 International Monetary Fund and World Bank Annual Meetings, concerns were reportedly expressed about the fact that China is supplying the platform’s key technological backbone.
#Fintech#CBDC#wCBDC#mCBDC#CrossBorder#Payments#BIS#DFC
·bloomberg.com·
BIS Debates Ending mBridge Project
Digital euro sparks sovereignty battle between EU governments and ECB
Digital euro sparks sovereignty battle between EU governments and ECB
According to Politico, a battle is brewing between the European Central Bank (ECB) and several European Union national governments over the holding limits that would be applied to a potential digital euro. Under the European Parliament's draft digital euro regulation, the ECB would decide on holding limits, consistent with a vision of the digital euro as an expression of European monetary sovereignty. However, at least nine countries, including Germany, France and the Netherlands, are reportedly concerned that allowing the ECB to set the limit would leave the institution with exclusive influence over a new tool that could have outsized effects on banking stability.
#Fintech#CBDC#Eurozone#ECB#DFC
·politico.eu·
Digital euro sparks sovereignty battle between EU governments and ECB
How do Canadians perceive access to cash?
How do Canadians perceive access to cash?
This paper introduces a subjective measure of cash accessibility in Canada, complementing existing distance-based metrics developed by Chen, O’Habib and Xiao (2023). Analyzing data from the 2023 Methods-of-Payment Survey, this study explores how Canadians perceive their ease of accessing cash from automated banking machines (ABMs) and financial institution branches. The results reveal strong alignment between subjective perceptions and distance-based metrics, with most Canadians reporting easy access to cash sources. Those who reported lower perceived cash accessibility need to travel longer distances and tend to be young, university-educated, low-income, unemployed or cashless.
This paper introduces a subjective measure of cash accessibility in Canada, complementing existing distance-based metrics developed by Chen, O’Habib and Xiao (2023). Analyzing data from the 2023 Methods-of-Payment Survey, this study explores how Canadians perceive their ease of accessing cash from automated banking machines (ABMs) and financial institution branches. The results reveal strong alignment between subjective perceptions and distance-based metrics, with most Canadians reporting easy access to cash sources. Those who reported lower perceived cash accessibility need to travel longer distances and tend to be young, university-educated, low-income, unemployed or cashless.
#Fintech#Cash#Canada#DFC
·bankofcanada.ca·
How do Canadians perceive access to cash?
The Consumer Value Proposition for a Hypothetical Digital Canadian Dollar
The Consumer Value Proposition for a Hypothetical Digital Canadian Dollar
The Bank of Canada (BOC) published a paper that explores the consumer value proposition of a hypothetical digital Canadian dollar. It employs a methodology that allows participants to interact with research prototypes of increasing complexity to reveal their preferences, constraints, and adoption influences. Qualitative insights are corroborated using quantitative, large-population surveys and contrasted with results from a Bank of Canada open online public survey. The results show that most participants would support the issuance of a digital dollar, but broad early adoption is unlikely given that available payment methods meet most user needs. Important considerations for appeal and adoption include universal merchant acceptance, low costs, easy access, simplified online payments, shared payment features, budgeting tools, and customizable security and privacy settings. Participants cited these features far more often than offline functionality and the ability to make anonymous payments. The results also show that certain groups may strongly resist a digital dollar if they conflate its launch with the end of cash issuance.
#Fintech#CBDC#Canada#DFC
·bankofcanada.ca·
The Consumer Value Proposition for a Hypothetical Digital Canadian Dollar
HKMA partners with Banco Central do Brasil and Bank of Thailand on Cross-Border Tokenisation Initiatives
HKMA partners with Banco Central do Brasil and Bank of Thailand on Cross-Border Tokenisation Initiatives
The Hong Kong Monetary Authority (HKMA) has established new cross-border partnerships with Banco Central do Brasil (BCB) and the Bank of Thailand (BOT) to explore cross-border payment-versus-payment (PvP) and delivery-versus-payment (DvP) settlement use cases in areas such as trade finance payments and carbon credits. In the HKMA-BCB case the HKMA will link its Project Ensemble central bank digital currency (CBDC) sandbox to the BCB Drex CBDC pilot platform. In the HKMA-BOT case, the HKMA will link the Ensemble sandbox to the BOT's Project San experimental tokenization platform, and test linking the two platforms with distributed ledger technology (DLT) based financial market infrastructures (FMIs). The BOT’s Project San, an internal initiative started in June 2024, aims to build and test a prototype for the tokenization ecosystem. This includes a wholesale settlement engine, EVM-compatible ledgers supporting tokenized private money and assets, and interoperability mechanisms. https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/10/20241028-4/
#Fintech#CBDC#CrossBorder#Hong Kong#Thailand#Brazil#DLT#FMIs#Tokenization#DFC
·hkma.gov.hk·
HKMA partners with Banco Central do Brasil and Bank of Thailand on Cross-Border Tokenisation Initiatives
BOE to press on with CBDC in case banks fall short
BOE to press on with CBDC in case banks fall short
According to Governor Andrew Bailey, the Bank of England (BOE) is pressing on with work on a potential retail central bank digital currency (CBDC) as it sees risks that commercial banks are failing to keep up with digital payment system innovations. "Absent innovation in commercial bank money, central banks may be left as the only game in town insofar as retail payments innovation is concerned, the central bank is indifferent as to whether retail payments are made in central bank or commercial bank money. However, during a 2021 House of Lords Economic Affairs Committee meeting, Bailey and then-Governor Jon Cunliffe implied that they would prefer not to see retail payments fully shift to nonbank payment instruments such as stablecoins. https://committees.parliament.uk/oralevidence/3062/html/
#Fintech#CBDC#UnitedKingdom#DFC
·bankofengland.co.uk·
BOE to press on with CBDC in case banks fall short
G20 Crypto-asset Policy Implementation Roadmap: Status report
G20 Crypto-asset Policy Implementation Roadmap: Status report
The Financial Stability Board (FSB) published a status report on progress made in taking forward the IMF-FSB crypto-asset policy implementation roadmap. Jurisdictions have made progress in implementing the policy and regulatory responses developed by the IMF, FSB, and standard-setting bodies (SSBs). Nearly all FSB member jurisdictions have plans in place to develop new or revise their existing regulatory frameworks for crypto-assets and stablecoins, or they already have those frameworks in place. However, inconsistent implementation of the FSB Framework may hinder its effectiveness and lead to regulatory arbitrage. Cross-border crypto-asset activities that originate from offshore jurisdictions present elevated regulatory and supervisory challenges for authorities.
#CryptoAssets#Regulation#Fintech#Stablecoins#FSB#IMF#DFC
·fsb.org·
G20 Crypto-asset Policy Implementation Roadmap: Status report
Risk-based Capital for Stable Value Tokens
Risk-based Capital for Stable Value Tokens
Circle published a paper that introduces Token Capital Adequacy Framework (TCAF), a risk-based capital framework designed for stable value tokens, including stablecoins, deposit tokens, and tokenized cash. TCAF assesses the capital requirements by considering both financial and non-financial risks that issuers face. Notably, TCAF quantifies the capital needed to absorb losses stemming from technological, infrastructure, and operational risks, particularly in an environment marked by rapid innovation and limited historical loss data. We apply the framework to past stress events involving stablecoins and demonstrate that TCAF is a more effective prudential tool compared to fixed-ratio or single factor capital frameworks.
#Fintech#CryptoAssets#Stablecoins#Tokenization#Circle#DFC
·papers.ssrn.com·
Risk-based Capital for Stable Value Tokens
Russian Banks Baulk at Digital Ruble Implementation Costs
Russian Banks Baulk at Digital Ruble Implementation Costs
Russian banks, particularly smaller ones, are reportedly unhappy about the high cost (between 120 million and 200 million rubles) of integrating with the central bank’s digital ruble platform. The Bank of Russia has mandated that the 13 systemically important banks must offer clients the ability to use the digital ruble starting July 1, 2025. Universal banks (around 208) are expected to follow suit on July 1, 2026, while banks with basic licenses will begin on July 1, 2027. Despite these reservations expressed by some banks, the Bank of Russia is proceeding with the established timeframes and has vowed to fine institutions that fail to abide by the set deadlines. https://www.kommersant.ru/doc/7249032
#Fintech#CBDC#Russia#DFC
·news.bitcoin.com·
Russian Banks Baulk at Digital Ruble Implementation Costs
Transactional and network analysis of Thailand’s retail CBDC pilot
Transactional and network analysis of Thailand’s retail CBDC pilot
Bank of Thailand (BOT) staff published a paper that analyzes end-to-end transaction data from the central bank's seven-month 2023 retail CBDC pilot. The pilot's three financial service providers (FSPs) appeared to engage in asymmetric behavior between issuance and redemption of CBDC. They generally front-loaded CBDC to absorb uncertainty of future demand and pursued an adaptive strategy to adjust the level of their CBDC reserve balance following retail transaction observed to minimize the opportunity cost of holding unremunerated CBDC. Retail users tend to use CBDC as a means of payment but not as story of value, managing their CBDC holdings to meet the demand for making payments to minimize the opportunity cost of holding CBDC.
#Fintech#CBDC#Thailand#DFC
·dcfintechweek.org·
Transactional and network analysis of Thailand’s retail CBDC pilot
Bank of Ghana eCedi CBDC pilot project report
Bank of Ghana eCedi CBDC pilot project report
The Bank of Ghana (BOG) published the results of its recent eCedi retail central bank digital currency (CBDC) pilot project. The pilot, which used Giesecke+Devrient's (G+D's) Filia CBDC platform , involved individuals and merchants of diverse demographic and socioeconomic backgrounds, using mobile applications, smart cards and point-of-sale (POS) terminals for four months. Offline functionality, using smartcards and Filia Connect devices, was successfully tested in a carefully chosen off-grid location, with person-to-business (P2B) being the primary focus. Post-pilot surveys indicated a strong possibility of all participants adopting the eCedi if it were to go live. However, there are no immediate plans to fully launch the eCedi, given the central bank's more pressing need to prioritize economic stabilization. https://www.bog.gov.gh/wp-content/uploads/2024/10/The-eCedi-Report-221024.pdf
#Fintech#CBDC#Ghana#G+D#Offline#DFC
·bog.gov.gh·
Bank of Ghana eCedi CBDC pilot project report
The Bank of Japan’s Third CBDC Forum Plenary Meeting
The Bank of Japan’s Third CBDC Forum Plenary Meeting
Medium published an English language summary by Norbert Gehrke of the October 17, 2024 meeting of the Bank of Japan's (BOJ's) CBDC Forum Plenary. There have been three such meetings, the last one being in January 2024. The BOJ is conducting proof-of-concept (PoC) experiments in stages to verify the technical feasibility of CBDC. Currently, the BOJ's experiments are focusing on performance, scalability, and privacy considerations. The system is designed to avoid handling personal information within the ledger management section, to ensure that user information and transaction details remain confidential.
#CBDC#Fintech#DFC
·medium.com·
The Bank of Japan’s Third CBDC Forum Plenary Meeting
Norges Bank on Track to Deliver CBDC Recommendation in 2025
Norges Bank on Track to Deliver CBDC Recommendation in 2025
Norges Bank Deputy Governor Pal Longva says that the central bank remains on track to finalize a recommendation in 2025 on whether it should introduce a central bank digital currency (CBDC). He said there’s “no urgency” to accelerate the decision-making process, which is looking at both retail and wholesale versions, with increasing weight being put on the latter. Longva’s remarks come less than a month before a November 15, 2024 deadline for a government task force to submit a report on ensuring safe and simple payments.
#CBDC#Fintech#CryptoAssets#DFC
·bloomberg.com·
Norges Bank on Track to Deliver CBDC Recommendation in 2025
Global payments in 2024: Simpler interfaces, complex reality
Global payments in 2024: Simpler interfaces, complex reality
McKinsey published its 2024 Global Payments Report which documents the continuing displacement of cash and checks by instant payments, especially in developing markets with low credit and debit card penetration. Despite the underwhelming uptake of retail central bank digital currencies (CBDCs) where they have been launched or piloted, McKinsey foresees them setting the minimum base level of functionality, cost, and services that users can expect from a digital currency, providing an alternative to help keep the price of commercial offerings in check, and serving as an alternative to large private-sector stablecoins.
#Fintech#Payments#CBDC#FastPayments#Cash#DFC
·mckinsey.com·
Global payments in 2024: Simpler interfaces, complex reality
Guidelines on ART/EMT redemption plans under the MiCAR
Guidelines on ART/EMT redemption plans under the MiCAR
The European Banking Authority (EBA) published its final Guidelines on the orderly redemption of token holders in case of crisis of the issuer. The Guidelines, which are addressed to competent authorities designated under the Markets in Crypto-Assets Regulation (MiCAR), cover issuers of asset-referenced tokens (ARTs) and of e-money tokens (EMTs). The Guidelines specify the content of the redemption plan to be developed in going concern, including the liquidation strategies of the reserve of assets, the mapping of critical activities, the content of the redemption claims, the main steps of the redemption process, and the elements that may lead to the trigger of the plan by the competent authority.
#Fintech#CryptoAssets#Europe#Regulation#Stablecoins#DFC
·eba.europa.eu·
Guidelines on ART/EMT redemption plans under the MiCAR
Cash Bill Pay Services and U.S. Payment Inclusion
Cash Bill Pay Services and U.S. Payment Inclusion
The U.S. Federal Reserve Bank of Kansas City published a paper by Franklin Noll on "cash bill pay" services that allows consumers to make digital (e.g., bill) payments with cash at participating retailers. A recent Atlanta Fed survey found that American consumer preferences to pay with cash remain pervasive for various reasons, including the costs and other impediments involved in moving to digital payments, lack of needed identification, former credit or banking problems, and the desire for privacy. The article goes on to describe the two main cash bill pay service (“walk-up” and “barcode") consumer experiences, and the costs that may make the service expensive for some.
#Cash#DFC
·kansascityfed.org·
Cash Bill Pay Services and U.S. Payment Inclusion
Conducted trials and experiments with the Trigger Solution
Conducted trials and experiments with the Trigger Solution
As part of the Eurosystem exploratory work to test new technologies for the settlement of wholesale transactions in central bank money, from May to November 2024, Eligible Market Participants and Eligible Market DLT Operators will have the opportunity to explore the interoperability solution(s) of their choice offered by the Eurosystem. The Deutsche Bundesbank (BuBa) Trigger Solution is one of these three available solutions. It links DLT platforms operated by the market with the traditional Eurosystem payment system (TARGET), thus enabling the direct settlement of DLT-based wholesale transactions on participants’ existing RTGS accounts in central bank money. The exploratory work comprises both trials in the participants’ production systems and experiments in the test environments. The BuBa maintains a list of all such use-case experiments here.
#Fintech#CBDC#wCBDC#Eurozone#Settlement#Tokenization#ECB#DFC
·bundesbank.de·
Conducted trials and experiments with the Trigger Solution
Deutsche Börse Group at the ECB wCBDC trials
Deutsche Börse Group at the ECB wCBDC trials
In 2024, the ECB invited market participants to test how new technologies like distributed-ledger technologies (DLT) would work for central bank money settlement. The so-called ECB trials and experiments are aimed at exploring the potential of digital payments targeting a wholesale central bank digital currency (CBDC). Together with leading institutions, infrastructures and fintech businesses, Deutsche Börse Group contributes to this transformative endeavor with its Clearstream and Eurex Clearing businesses. The Deutsche Börse maintains a list of all such use-case experiments here.
#Fintech#CBDC#wCBDC#Settlement#Tokenization#Eurozone#ECB#DFC
·deutsche-boerse.com·
Deutsche Börse Group at the ECB wCBDC trials
ANZ explores stablecoin to track pension payment
ANZ explores stablecoin to track pension payment
The Health Employees Superannuation Trust Australia (HESTA) and ANZ are examining whether the bank’s A$DC stablecoin could allow HESTA to streamline pension payment reconciliation. Currently, HESAT member firms contributing to staff pensions pay the money across and separately send data about what it relates to. ANZ’s idea is for the data to accompany the stablecoin payment as part of a smart contract. This could eliminate the entire reconciliation process and employees would be able to see their contributions in real time.
#Fintech#Stablecoins#CryptoAssets#Australia#DFC
·ledgerinsights.com·
ANZ explores stablecoin to track pension payment
Paxos debuts new stablecoin payment platform with Stripe
Paxos debuts new stablecoin payment platform with Stripe
Paxos launched a new stablecoin payments platform targeting payment service providers (PSP) and Fintechs that want to enable stablecoin payments. Global payment processing company Stripe will be the first PSP to integrate the new platform into its system. The infrastructure will be featured on Stripe’s Pay with Crypto product, which allows users to accept stablecoin payments settling in fiat currencies. Once a stablecoin payment is received via Paxos, users can choose whether to immediately convert to fiat currency and settle in local currency, or pay out stablecoin balances directly to merchants. Merchants will have the ability to issue refunds by instantly converting fiat into the stablecoin originally used, then sending directly to the wallet used in the initial payment. https://paxos.com/blog/paxos-launches-new-stablecoin-payments-platform/ https://docs.stripe.com/crypto/integrate-pay-with-crypto
#Fintech#CryptoAssets#Stablecoins#Paxos#USDP#DFC
·cointelegraph.com·
Paxos debuts new stablecoin payment platform with Stripe
10 years of stablecoins: Their impact, what we know
10 years of stablecoins: Their impact, what we know
This paper highlights the growth and importance of stablecoins since they were launched 10 years ago. We outline their impact on the cryptocurrency ecosystem as well as the financial system as a whole, while also summarising the main findings in the literature. Finally, we outline future research directions.
This paper highlights the growth and importance of stablecoins since they were launched 10 years ago. We outline their impact on the cryptocurrency ecosystem as well as the financial system as a whole, while also summarising the main findings in the literature. Finally, we outline future research directions.
#Fintech#CryptoAssets#Stablecoins#CBDC#DFC
·sciencedirect.com·
10 years of stablecoins: Their impact, what we know
Banco do Brasil calls for new Drex project participants
Banco do Brasil calls for new Drex project participants
Banco Central do Brasil (BCB) is calling for new companies to participate in its Drex wholesale central bank digital currency (CBDC) project aimed at the tokenization of the Brazilian financial system. There is no initial limitation on the number of business cases that can be selected. The number of selected proposals will be determined on the set of applications received and considering the central bank’s technical and operational capacity.
#CBDC#Fintech#Brazil#wCBDC#Tokenization#DFC
·bcb.gov.br·
Banco do Brasil calls for new Drex project participants
Russia outlines proposal for BRICS DLT cross border payment system
Russia outlines proposal for BRICS DLT cross border payment system
Russia's Ministry of Finance published a proposal to develop a distributed ledger technology (DLT) based cross-border payment infrastructure that serves the interests of the BRICs countries (Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates). The BRICS Cross-Border Payment Initiative (BCBP) project is aimed at circumventing the U.S. dollar dominated global financial system, and sanction-proofing member countries. The report was co-authored by the Bank of Russia and Yakov & Partners, as Russia prepares to host leaders for the annual BRICS summit, in Kazan from October 22 to 24. https://minfin.gov.ru/common/upload/press_center/2024/10/BRICS_Research_on_IMFS_20241008.pdf https://pdfupload.io/docs/e1231f66
#Fintech#CBDC#CrossBorder#Blockchain#DLT#Russia#BRICS#Payments#wCBDC#DFC
·ledgerinsights.com·
Russia outlines proposal for BRICS DLT cross border payment system
PBOC update on the digital RMB pilot
PBOC update on the digital RMB pilot
Mu Changchun, Director of the Digital Currency Institute of the People's Bank of China (PBOC), provided an update on the digital renminbi (RMB) pilot. As of the end of July 2024, there were 180 million personal digital RMB wallets, and the cumulative transaction amount was 7.3 trillion yuan, including high-value securities and trade transactions.
As of the end of July 2024, the digital RMB App had opened a total of 180 million personal wallets, and the cumulative transaction amount in the pilot area was 7.3 trillion yuan.
#Fintech#CBDC#DFC
·finance.sina.com.cn·
PBOC update on the digital RMB pilot
From Central Banks to Governments and Standards: CBDC Governance in Canada
From Central Banks to Governments and Standards: CBDC Governance in Canada
The Centre for International Governance Innovation (CIGI) published a paper that explores the democratic governance required to make an informed decision on whether to issue a CBDC and, if one is to be issued, how to develop and implement it responsibly. It reveals a disconnect in Canadian CBDC discussions: while the government is responsible for the decision to issue such a currency, political engagement on the topic has been limited. Policy recommendations aimed at fostering democratic oversight, public engagement and the protection of rights in light of the potential development of a digital Canadian dollar are provided. For example, the paper suggests that Canada could leverage existing collaborative initiatives, such as the Canadian Digital Regulators Forum, to create a more comprehensive and inclusive CBDC governance framework.
#Fintech#CBDC#CryptoAssets#DFC
·cigionline.org·
From Central Banks to Governments and Standards: CBDC Governance in Canada
Eswatini digital lilangeni design paper
Eswatini digital lilangeni design paper
The Central Bank of Eswatini (CBE) published a paper co-written with Giesecke+Devrient (G+D) on the design characteristics of a potential domestic retail central bank digital currency (CBDC). It also reported on proof of concept (POC) tests of online and offline payment use cases involving selected CBE staff members. A digital lilangeni would be fully interoperability with the existing payment methods and wholesale and retail infrastructures, and be available 24/7/365 in (near) real-time manner. Also it would be unremunerated, as it will be primarily aimed to be a means of payment and not a savings vehicle. Although it would not be run on a distributed ledger technology (DLT) platform, it would be built on a distributed database, operated and permissioned by the CBE.
#Fintech#CBDC#Eswatini#G+D#DFC
·centralbank.org.sz·
Eswatini digital lilangeni design paper