Fintech Daily Digest

100% e-money and the corresponding regulation are compared to two models where the CBDC providing third-party is either an intermediary or a custodian.

This paper gathers various stablecoin price stabilization mechanisms, dividing the methods into four collateral types (fiat, crypto, commodity, and non-collateralized) and two layers (protocol and application) to show that non-collateralized stablecoin on the application layer is the simplest approach for implementation.

Gemini Trust Company, a regulated custodian overseen by the New York Department of Financial Services (NYDFS), now offers "Gemini Custody," a platform which would enable clients to trade assets instantly by offering them credits.

Several established players in the fund industry are using DLT in their business.

Facebook and it's Libra Association partners are planning to initially back Libra with fiats including US dollars, euro, yen, British pound, and Singapore dollar, on concerns raised by Senator Mark Warner (D-Virginia) for China's attempts to push the Libra Association to include yuan in the basket of the currencies backing Libra.

IBM has doubled the number of its employees on the technical steering committee (TSC) of Hyperledger, stoking concerns about the tech giant's influence on the enterprise blockchain consortium.

Tether has launched its Chinese yuan-backed stablecoin, which will run on top of the ethereum blockchain. The new CNH₮ token, is collateralized with yuan stored offshore.

The Central Bank of Brazil is developing a new instant payment system that will change how funds are sent within the country. Brazilian citizens will purportedly be able to send and receive money in seconds, instead of several hours and even days.

The government of Catalonia has announced it will develop a DLT-based identity platform aimed to give citizens control of their own data when interacting with online services. The Catalan government will act as the validator for the network, but it will not collect users' personal data.

The Philippines is anticipated to launch a standardised QR code for payments by September, according to a report by Philstar. The plan to standardise QR payments in Philippines was first announced by the late BSP Governor Nestor A. Espenilla, Jr in July last year.

There's a huge imbalance between crypto hacker insurance supply and demand, but the $45B Lloyd's of London insurance marketplace is emerging as a major player, as is Aon, the second-largest insurance broker in the world.

This paper compares the financial account implications of CBDC with stable coins and narrow bank digital money, noting the similarity and differences in terms of implications on the financial system.

Telegram's TON blockchain is designed as a proof-of-stake protocol with the support of multiple "shardchains." Validators, chosen from among those users who stake considerable amounts of tokens, will confirm the blocks.

Binance, is finally ready for the launch of Binance US, the US-based version of its services. According to a recent blog post, the new platform will be live in a couple of weeks.

Pakistan's Faysal Bank has joined RippleNet's xCurrent cross-border transfer network.

As lending services migrate from financial institutions to the blockchain, new contenders are challenging legacy players with easy credit, versatile forms of collateral, and attractive interest rates.

The Tether Treasury moved 7m USDT from its vaults recently and minted 10m USDT just an hour after the money was moved out. Could this be a sign that the next bull run is on the corner? People often use USDT in order to trade BTC, so there is a correlation between USDT volumes and Bitcoin prices.

JP Morgan: Libra and other stablecoins "do not take into account the microstructure of operating such a payment system. The risk of payment system gridlock, particularly during periods of stress, could have serious macroeconomic consequences."

SNB's governing board chair Thomas Jordan: "if stablecoins pegged to foreign currencies were to establish themselves in Switzerland, the effectiveness of our monetary policy could be impaired."

Intercontinental Exchange Inc. is closer to offering Bitcoin futures trading as its Bakkt unit opened its digital-asset custody warehouse to customers. Here are the nuts and bolts of how it will work.