Tech and data
Singapore develops multi-currency blockchain network
Prototype developed in tandem with JP Morgan and Temasek enables payments to be carried out in different currencies
PBoC to rein in fintech firms after President Xi praises blockchain
Central bank will verify blockchain-compatible products in bid to ensure financial stability and curb speculation
Deutsche offers trade info to China FX clients via WeChat
The bank looks to extend this feature to other asset classes in the future
Cambodia extends blockchain payment system pilot
Central bank lengthens trial to end of year and explores including cross-border transactions
Numbering association starts work on crypto identifiers
Anna task force explores how Isins can be extended to digital assets such as tokenised securities and cryptocurrencies
Facebook not trying to replace central banks, claims Zuckerberg
Facebook chief plays down economic impact and says libra can help fight financial crime
Algo adoption at inflection point, driven by buy side
Usage in FX is rising, but there are inherent limitations to overall take-up
BdF paper looks at digital currency and remuneration
Remuneration is key consideration for design of central bank-issued digital currencies, paper argues
‘Hegemonic digital currency’ could help fix global system – Carney
Using CBDC to facilitate online sales could bring about more rapid change, governor says
Bankers are ignoring crypto assets’ flaws – expert
Technologists are more worried than financiers by problems, expert tells IMF panel
G7 group warns of stablecoin risks as FSB sets out plans
Group’s final report says global stablecoins could generate “significant adverse effects”; FSB outlines plan for review of stablecoin regulation
Bahamas takes steps towards digital currency as legal tender
Central bank proposes changes to governing law to give itself authority to issue a CBDC
FSB raises pressure on stablecoins as firms abandon libra
Several major payment firms have distanced themselves from the project amid intense regulatory scrutiny
Machines can save 20% on routing orders, UBS says
Machine learning is navigating the labyrinth of venues, figuring out how best to land the trade
BIS and SNB co-operate on central bank digital currency
Technology research hub will also investigate how to use DLT infrastructure
Kantox provides Citi’s commercial bank with enhanced FX payments
Corporate clients in US will see connectivity improvements as Kantox operates as “software layer”
FSB looking into regulations applicable to stablecoins
Stablecoins may be small now, but there’s “no doubt” they pose regulatory challenges, FSB chair says
JP Morgan traded $250 billion via NDF algos this year
A fifth of all the NDF algo volumes conducted by JP Morgan’s clients is being internalised
Institutional crypto interest awaits infrastructure
Start-ups and entrenched players aim to bring over custody, execution and post-trade capabilities
Central banks urged to adopt DLT-based CBDC
Industry figures argue central bank money needed for token-based securities settlement, but central bankers sceptical
ECB prepares for ‘big-bang’ move to new market infrastructure
Eurozone's payments, instant payments and securities settlement systems will merge by end of 2021
Swift conducts 13-second cross-border payment
Trials complete payments from origination through to clearing and settlement within seconds
IMF officials call for ‘far-sighted’ digital currency regulation
Stablecoins could put weaker currencies at risk and increase illicit activities
Tradepoint onboards 10 streaming NDF providers for broken dates
The firm sees greater use of algos to trade NDFs in increasingly electronified market