DFC

5276 bookmarks
Custom sorting
Reserve Bank of Zimbabwe 'Developed a Roadmap for Adoption of CBDC
Reserve Bank of Zimbabwe 'Developed a Roadmap for Adoption of CBDC
The Reserve Bank of Zimbabwe has developed a roadmap for "adoption" of central bank digital currency (CBDC) in Zimbabwe, according to its August 11, 2022 Mid-Term Monetary Policy Statement. The next step will be imminent the publication of a consultation paper aimed at "fostering a broad and transparent public dialogue regarding the potential benefits and risks of CBDC." https://www.rbz.co.zw/documents/mps/2022/Monetary-Policy-Statement-August-2022-.pdf
#Fintech#CBDC#Africa#DFC
·news.bitcoin.com·
Reserve Bank of Zimbabwe 'Developed a Roadmap for Adoption of CBDC
Central Bank Digital Currency: Will Banks Survive
Central Bank Digital Currency: Will Banks Survive
Will an introduction of CBDC cause disintermediation? I provide empirical and theoretical evidence that CBDC will not necessarily crowd out bank deposits in economies with significant demand for currency. I estimate the model for the US using data on households' payment choices and find that non-interest-bearing CBDC will lead instead to an inflow of deposits caused by cash substitution. Banks then lower deposit rates and lend more. Similarly, banks will not contract lending if CBDC is intermediated even if they experience an outflow of deposits. Finally, I show that CBDC can lead to disintermediation when it is interest-bearing.
#CBDC#Fintech#DFC
·papers.ssrn.com·
Central Bank Digital Currency: Will Banks Survive
Nigerians to access eNaira through USSD
Nigerians to access eNaira through USSD
The Central Bank of Nigeria Governor, Godwin Emefiele, has reportedly said that Nigerians will be able to transact on eNaira central bank digital currency (CBDC) wallets through the Unstructured Supplementary Service Data (USSD) code on mobile phones. Nigerians will only have to dial *997# from their phones to carry out transactions on their phones. The Governor also reported that the eNaira has been used to carry out transactions worth 4 billion naira ($9.3 million) since it was introduced last October, and there are now about 270,000 active wallets.
#Fintech#CBDC#USSD#Africa#DFC
·punchng.com·
Nigerians to access eNaira through USSD
FedNow is a better alternative to a CBDC, Federal Reserve governor says
FedNow is a better alternative to a CBDC, Federal Reserve governor says
Many of the challenges that Fedcoin fans say the central bank digital currency (CBDC) will solve will be addressed by the upcoming FedNow payment service, according to US Federal Reserve Governor Michelle Bowman. “FedNow will… allow consumers and businesses to make payments conveniently, in real time, on any day, and with immediate availability of funds for receivers. Our assessment of these benefits has not changed even as we consider whether a CBDC might fit into the future U.S. money and payments landscape… Completing and implementing FedNow is a high priority, and we expect it to be available by mid-2023.”
#Fintech#CBDC#UnitedStates#DFC
·federalreserve.gov·
FedNow is a better alternative to a CBDC, Federal Reserve governor says
Minutes of the July 2022 Bank of England CBDC Engagement Forum
Minutes of the July 2022 Bank of England CBDC Engagement Forum
A Member of the Forum presented on potential business models for Payment Interface Providers (PIPs) in a CBDC ecosystem. The presentation set out that PIPs would likely undertake activities suggested in the Bank's 2020 Discussion Paper on CBDC such as onboarding clients, conducting KYC (Know Your Costumer) and AML (Anti Money Laundering) checks, authenticating users and providing consumer protection and overlay services, among others. The presentation then laid out a set of costs that such a PIP would likely incur in offering those services. A second Member presented a view on how the private sector could collaborate with policymakers to deliver on some of the G7 Principles on CBDC (published in October 2021).
#Fintech#CBDC#UnitedKingdom#DFC
·bankofengland.co.uk·
Minutes of the July 2022 Bank of England CBDC Engagement Forum
Banco de la República estudia crear una moneda digital en Colombia
Banco de la República estudia crear una moneda digital en Colombia
The Governor of Colombia's Banco de la República, Leonardo Villar, reportedly confirmed that the central bank is evaluating the possibility of issuing central banks digital currency (CBDC). No details were provided. [Read more at El Colombiano] A few days ago, Luis Carlos Reyes, head of Dirección de Impuestos y Aduanas Nacionales (DIAN), the country's tax authority, reportedly said that the government was planning to issue a digital currency to curb tax evasion. It's not clear whether these two stories are related.
#Fintech#CBDC#LATAM#DFC
·elcolombiano.com·
Banco de la República estudia crear una moneda digital en Colombia
Africa’s first central bank e-currency is yet to have recurring users
Africa’s first central bank e-currency is yet to have recurring users
Nigeria’s central bank believes its digital currency, the eNaira, has scored wins in the ten months since it was launched last October. The app has been downloaded 840,000 times, nearly a third of those converting to active wallets. But, the news should be taken with a healthy dose of skepticism as at an average of 1.35 transactions per active wallet, the eNaira has not convinced its users to do a lot with it. At N22,000 ($52), the currency’s average transaction value is way behind the regular naira: in 2021, Nigeria’s financial sector processed electronic payments at an average of N720,000 ($1,700) per transaction.
#Fintech#CBDC#Africa#DFC
·qz.com·
Africa’s first central bank e-currency is yet to have recurring users
Reserve Bank Australia says a live CBDC likely to be wholesale
Reserve Bank Australia says a live CBDC likely to be wholesale
Members of the Reserve Bank of Australia (RBA) Payment Systems Board discussed the increasing interest in central bank digital currency (CBDC) internationally and in Australia. Many see an increased likelihood of issuing some form of CBDC in the future, especially to support wholesale transactions.
#Fintech#CBDC#Australia#DFC
·rba.gov.au·
Reserve Bank Australia says a live CBDC likely to be wholesale
China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses
China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses
Ningbo Rail Transit, the operator of the subway system in the city of Ningbo in the eastern Chinese province of Zhejiang, has reportedly launched payments in digital yuan at 125 stations. Also, bus riders in Guangzhou will be able to buy tickets with digital yuan. They will be able to use their e-CNY wallets on 10 bus lines.
#Fintech#CBDC#China#DFC
·news.bitcoin.com·
China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses
China's Digital Yuan App Can Now Link to Users' Bank Accounts
China's Digital Yuan App Can Now Link to Users' Bank Accounts
The digital yuan payment app reportedly can now be linked to bank accounts to ensure that funds in users' e-CNY wallets never run dry. The app can automatically draw amounts from a linked account at a commercial bank when the e-CNY wallet's balance is not enough. Users also have the option not to link the app to a bank account.
#Fintech#CBDC#China#DFC
·yicaiglobal.com·
China's Digital Yuan App Can Now Link to Users' Bank Accounts
Indonesian central bank provides update on CBDC plans
Indonesian central bank provides update on CBDC plans
Perry Warjiyo, the Governor of the Bank Indonesia (BI), provided an update on the central banks's CBDC plans. It sounds like the BI is leaning towards a distributed ledger technology (DLT) based platform, but it is undecided as to whther it will be a retail or wholesale digital currency. Building in interoperability will be important to open up the possibility of cross-border payments, particularly in the ASEAN+5 region, where there is already cooperation with Thailand and Malaysia through the support for the implementation of QR Cross Border and Local Currency Settlement (LCS).
#Fintech#CBDC#Asia#DFC
·bot.or.th·
Indonesian central bank provides update on CBDC plans
FIS is latest payments firm to launch CBDC Lab
FIS is latest payments firm to launch CBDC Lab
FIS, the banking sector solution provider, announced plans to help central banks to launch central bank digital currencies (CBDC) through its CBDC Virtual Lab, which is in collaboration with digital payments startup M10 Networks.
#Fintech#CBDC#M10#DFC
·ledgerinsights.com·
FIS is latest payments firm to launch CBDC Lab
Federal Reserve Board updates FedNow Service timing to mid-2023
Federal Reserve Board updates FedNow Service timing to mid-2023
The Federal Reserve Banks have narrowed the timing of the FedNow Service launch to mid-year 2023, specifically targeting a production rollout of the service in the May to July timeframe. This further defines the previously communicated 2023 launch window for the anticipated instant payments service and comes as the FedNow Pilot Program prepares to enter technical testing for the service starting in September.
#Fintech#FastPayments#CBDC#UnitedStates#DFC
·federalreserve.gov·
Federal Reserve Board updates FedNow Service timing to mid-2023
CBN approves rewards scheme for merchants, users of eNaira
CBN approves rewards scheme for merchants, users of eNaira
The Central Bank of Nigeria (CBN) has reportedly approved a reward scheme for users of the eNaira, including merchants. This includes providing merchants with the required promotional materials, subsidising the current Merchant Service Charge by 50% and activation of a nationwide sensitization which early business adopters of eNaira can leverage on to market its wider adoption.
#Fintech#CBDC#Africa#DFC
·businessday.ng·
CBN approves rewards scheme for merchants, users of eNaira
Banco Central do Brasil publishes list of projects selected for LIFT 2022
Banco Central do Brasil publishes list of projects selected for LIFT 2022
The Banco Central do Brasil (BCB) announced the short list of eight projects selected in the 2022 Laboratory of Financial and Technological (LIFT). One of them is a proposal to convert a stablecoin on the Celo blockchain into Real Digital, studying the interoperability between the public blockchain that runs on the EVM (Ethereum Virtual Machine) and the central bank digital currency (CBDC), in addition to the possible interoperability with Pix.
#Fintech#CBDC#LATAM#DFC
·bcb.gov.br·
Banco Central do Brasil publishes list of projects selected for LIFT 2022
The Digital Dollar Project Launches CBDC Technical Sandbox Program
The Digital Dollar Project Launches CBDC Technical Sandbox Program
The Digital Dollar Project (DPP) announced today the launch of its central bank digital currency (CBDC) Technical Sandbox Program. It will serve as a collaborative space for the DDP participants and financial service providers, offering a neutral environment for the evaluation of technological, business, and policy approaches to CBDCs. Program participants will examine real-world technology, explore potential implications to business strategies and operations, and experiment to uncover possible use-case specific solutions. It is is slated to begin in early October with the inaugural cohort focused on cross-border payments.
#Fintech#CBDC#UnitedStates#DFC
·prnewswire.com·
The Digital Dollar Project Launches CBDC Technical Sandbox Program
G.R.E.E.N CBDC Powered By EMTECH
G.R.E.E.N CBDC Powered By EMTECH
EMTECH announced today the G.R.E.E.N. CBDC Framework to assist central banks in unlocking unprecedented value when deploying a Central Bank Digital Currency (CBDC).
#Fintech#CBDC#Emtech#DFC
·greencbdc.com·
G.R.E.E.N CBDC Powered By EMTECH
CBDC Services — Chavanette Advisors
CBDC Services — Chavanette Advisors
"Chavanette has teamed up with GFT to provide banks with a full service offering covering CBDC preparedness and integration. Chavanette will support you at every stage. We take inputs from central banks and upstream CBDC service providers, so we can advise our clients on how to integrate the latest developments. Chavanette and GFT can manage your CBDC integration projects and provide full support during and after launch."
#Fintech#CBDC#DFC
·chavanette.com·
CBDC Services — Chavanette Advisors
A Conversation On CBDCs, With Jamiel Sheikh, Of CBDC Think Tank
A Conversation On CBDCs, With Jamiel Sheikh, Of CBDC Think Tank
Forbes published an interview focused on central bank digital currency (CBDC) with Jamiel Sheikh , CEO of the CBDC Think Tank (CBDCTT). The CBDCTT delivers education, the CBDC Summit in Washington D.C in collaboration with the IMF,  and is expanding into advisory with a number of key clients and central banks.  A key interview takeaway for me was the stressing of the importance of central banks building internal CBDC competencies instead of relying on vendors.
#Fintech#CBDC#CBDCTT#DFC
·forbes.com·
A Conversation On CBDCs, With Jamiel Sheikh, Of CBDC Think Tank
Central Bank Of Nigeria Announces ENaira's Integration With NIBSS
Central Bank Of Nigeria Announces ENaira's Integration With NIBSS
The Nigerian Central Bank (CBN) has declared the eNaira to be completely implemented into the Nigeria Inter-Bank Settlement System (NIBSS) Customers can now transfer money from their eNaira wallet to any Nigerian bank account of their choice thanks to the integration with NIBBS Instant Payments (NIP), the country's main payment system. NIP is a virtual real-time Inter-Bank payment method based on account numbers. https://twitter.com/cenbank/status/1564226139761131523
#Fintech#CBDC#Africa#DFC
·blockbuild.africa·
Central Bank Of Nigeria Announces ENaira's Integration With NIBSS
Central Bank Digital Currency - nChain
Central Bank Digital Currency - nChain
nChain works with central banks to explore the drivers behind Central Bank Digital Currency (CBDC) and the role blockchain plays in delivering an optimal design. Our approach to CDBC delivers the purest form of digital cash and, by using a highly scalable public ledger, we can offer new economic tools to support central banks even further.
#Fintech#CBDC#nChain#DFC
·nchain.com·
Central Bank Digital Currency - nChain
"Real SDR Currency Board" by Warren Coats
"Real SDR Currency Board" by Warren Coats
"An enhanced special drawing right (SDR), valued by a basket of goods, would provide the global currency and reserve asset the global economy craves. This paper proposes linking the value of the International Monetary Fund’s SDR and national currencies that fix their exchange rates to the SDR to a representative basket of widely traded goods. The new “real SDR” would be issued and redeemed passively according to “Currency Board” rules in exchange for financial assets with the same market value as the basket. National currencies and/or an international reserve currency with the same value (i.e. fixed to a common unit of account) would lower the cost of trading by reducing transaction and information costs and exchange rate risk and would thus increase world trade and improve the efficiency of international resource allocation. A system anchored to a goods basket would not have the shortcomings that afflict the gold standard-gold's fluctuating relative value. The indirect redeemability rule, issuing and redeeming real SDRs for financial assets of equivalent value would avoid the shortcoming that makes multi-good commodity standards very costly—¬the need to maintain large reserves of all of the commodities in the basket. The innovative idea of indirect redeemability, discussed by Yeager, Greenfield, and others, keeps the quantity of SDRs equal to the amount demanded when its value is given by the valuation basket, without the need for the monetary authority to warehouse the goods in the basket."
#Fintech#SDR#CBDC#IMF#DFC
·works.bepress.com·
"Real SDR Currency Board" by Warren Coats
RBI in talks with 4 banks, fintechs for digital currency launch this financial year
RBI in talks with 4 banks, fintechs for digital currency launch this financial year
The Reserve Bank of India (RBI) is reportedly in talks with fintech companies and state-controlled banks about a trial run of a central bank digital currency (CBDC) with a possible rollout by the end of the fiscal year ending March 31, 2023. The list of fintechs that the RBI is consulting include US-based FIS, plus four state-run banks to run a pilot CBDC project (State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda).
#Fintech#CBDC#Asia#DFC
·moneycontrol.com·
RBI in talks with 4 banks, fintechs for digital currency launch this financial year
Exiles Put Crypto, Fed Funds at Center of Myanmar Finance Plan
Exiles Put Crypto, Fed Funds at Center of Myanmar Finance Plan
Myanmar exiles ousted in a 2021 coup are pressing the US Federal Reserve to endorse their bid to use $1 billion in funds frozen by the US to back a digital currency and a plan to establish a new central bank. If the exiles can get US support, they would then seek to establish a new central bank that could issue the digital currency to help support the opposition’s “revolutionary efforts."
#Fintech#CryptoAssets#CBDC#GovCoins#DFC
·bloomberg.com·
Exiles Put Crypto, Fed Funds at Center of Myanmar Finance Plan
PBOC Releases Digital CNY Smart Contract Prepaid Fund Management Product
PBOC Releases Digital CNY Smart Contract Prepaid Fund Management Product
The People's Bank of China (PBOC) has reportedly launched an eCNY smart contract prepaid fund management product - "Yuanguanjia". It aims to provide users with prepaid consumption service scenarios by deploying smart contracts on digital RMB wallets. This stops merchants from running away with prepaid consumption and protects consumers' rights and interests.
#Fintech#CBDC#SmartContracts#China#DFC
·blockchain.news·
PBOC Releases Digital CNY Smart Contract Prepaid Fund Management Product