For central bank digital currencies to enhance cross-border payments, issuing institutions must take functionality into account to avoid unintended barriers, a joint report by three international financial bodies says.
Deeper structural flaws in crypto make it unsuitable as the basis of a monetary system that serves society, the Bank for International Settlements said in its annual report.
Governments around the world are racing to develop their own digital currencies, but an e-HKD may not make sense for Hong Kong’s people. John Mitchell of Episode Six explains why Hong Kong is unique.
A 2021 poll of 81 central banks by the BIS reveals that work on retail CBDCs has moved into more advanced stages, driven by a need to increase financial stability amid the pandemic, and the emergence of stablecoins.
In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?
Countries around the world are exploring central bank digital currencies. But US and European central bank leaders say they value stability over speed.
China, UAE, Hong Kong, Thailand and Bank for International Settlements collaborate on ‘m-CBDC Bridge’ digital currency project for cross-border payments.