Articles
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2 weeks ago |
omfif.org | John W Orchard |Lewis McLellan
A key official whose job it is to consider the digitalisation of money at a developed world central bank returned from the Spring International Monetary Fund-World Bank meetings with a deep sense of unease.
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2 months ago |
omfif.org | Lewis McLellan |Marcelo M. Prates
Hurdles to blockchain adoption in capital markets are falling away. The US’ abandonment of Staff Accounting Bulletin 121 was a key step and the Eurosystem’s advancing work on cash settlement solutions are welcome. However, there are still major stumbling blocks to be addressed. The Eurosystem announced in February 2025 that it is expanding its work to create a solution for the cash leg settlement of distributed ledger technology transactions in central bank money.
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2 months ago |
omfif.org | Lewis McLellan
Discussion of stablecoins has exploded among policy-makers and payment system incumbents since the election of US President Donald Trump. Use of the instruments has been growing steadily for several years but remains confined primarily to trading pairs with cryptoassets and for use in cross-border payments by those who prefer not to or are unable to access the traditional banking system.
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2 months ago |
omfif.org | Lewis McLellan
Digital wallets have already begun to take hold of our payments behaviour, accounting for 29% of card transactions in 2023, up from 8% in 2019. Their capabilities are only set to grow as identity solutions, new forms of money and other functions come online. But regulators are starting to become concerned that there are only really two games in town: Apple and Google. Their respective wallets, bundled with iOS and Android respectively, absolutely dominate the market.
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2 months ago |
omfif.org | Lewis McLellan
Traditionally, financial market participants exchange electronic messages to coordinate financial transactions, and each institution updates its own books and records based on these messages. The final record, against which the accuracy of each institutions’ own records is assessed, is maintained by a central party. The integrity of the system is based on trust in that central party. Public, permissionless blockchains are upending that order.
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Look, I know this is not the main issue here, but asking a conclave to “keep an open mind” is simply contrary to the idea of a conclave.
I was excited to hear that President Trump is open to the idea of being the next Pope. This would truly be a dark horse candidate, but I would ask the papal conclave and Catholic faithful to keep an open mind about this possibility! The first Pope-U.S. President combination has https://t.co/MM9vE5Uvzb
Gonna be honest: I thought tea still meant gossip, so I am pretty lost here.
not to trauma dump or anything but during the boston tea party, i was actually thrown into the boston harbor because they thought my body was tea. it was really scary. i almost drowned.
Incredible scenes with co-host of my favourite MMA podcast shouting out co-host of my favourite finance podcast. @EvilGregJackson startled to discover you are a @matt_levine fan
