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BIS – Bank for International Settlements

29 articles

July 2023

Tokenization is driving new value, and Asia is leading the way: Opinion

Across Asia, projects dedicated to asset tokenization have become a cornerstone of the new digital economy, showing the world the technology’s possibilities.

November 2022

Retail crypto sees more new users when Bitcoin prices rise: BIS report

A rise in Bitcoin prices is the most important factor for a significant increase in the number of new investors, instead of distrust in public institutions, dislike for traditional banks, or search for a store of value, according to a report by the Bank for International Settlements. 

BIS’ ‘Project Mariana’ to explore CBDC integration with DeFi

The Bank for International Settlements (BIS) has launched a new project with the central banks of Singapore, France and Switzerland to study the possibility of integrating some decentralized finance (DeFi) features with central bank digital currencies (CBDCs). See related article: mBridge participants to end domestic payments of foreign CBDCs Fast facts The BIS announced on […]

October 2022

BIS, Goldman Sachs, HKMA test tokenized green bond project Genesis 2.0

Genesis 2.0 aims to explore tokenized carbon credits and IoT facilities to monitor green bond issuers’ emission-reducing commitment.

September 2022

Sweden’s central bank to test use of retail CBDC for instant payments

Sveriges Riksbank, Sweden’s central bank, is teaming up with peers in Israel and Norway and the Bank for International Settlements (BIS) to test instant payments via retail cross-border central bank digital currency (CBDC), according to a press release on Wednesday.  See related article: Warnings on crypto, Bitcoin have materialized, says central bank body BIS  Fast […]

July 2022

Bitcoin below US$20,000; Voyager refund questions

Bitcoin once again falls below the US$20,000 mark. Meanwhile, Celsius pays over US$113 million in debt and recovers more.

Inter-country use key for CBDCs to reach potential: report

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.

June 2022

Voyager calls time on Three Arrows as crypto fund teeters on the brink

Top blockchain and crypto news: Three Arrows fallout spreads. BIS calls BS on crypto. Chinese regulatory vacuum chills an NFT platform.

BIS warns over crypto; Crypto bailout battles

BIS warns over crypto, calling it unreliable as money. Meanwhile, Morgan Creek Capital counters FTX’s US$250 million BlockFi bailout.

Warnings on crypto, Bitcoin have materialized, says central bank body BIS

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.
and

Hong Kong to research retail CBDC cybersecurity with Israel, BIS

The Hong Kong Monetary Authority (HKMA) announced a joint research project with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre to study cybersecurity issues in retail central bank digital currencies (CBDCs). See related article: Hong Kong now exploring retail CBDC in upcoming Project Aurum Fast facts […]

May 2022

Why a Hong Kong CBDC is coming — for institutions

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.

Central banks double down on CBDC issuance: BIS report

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.

January 2022

Hong Kong to pilot international trade settlement for mBridge this year

Hong Kong’s central bank digital currency (CBDC) project with three other central banks and the Bank of International Settlements (BIS) will enter its pilot stage this year to test international trade settlements, a Hong Kong government official said. Fast facts Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said on Wednesday the […]

BIS to study DeFi for SME financing in Hong Kong

The Bank for International Settlements (BIS) Innovation Hub announced on Tuesday that its Hong Kong Center will explore this year whether decentralized finance (DeFi) can improve financing for small and medium enterprises. Fast facts In Hong Kong, the BIS has been working with central banks of China, Hong Kong, United Arab Emirates and Thailand on […]

December 2021

BIS: DeFi has few real-economy uses, says ‘decentralization is an illusion’

With suitable regulation in place, DeFi could yet play an important role in the financial system, BIS suggests.
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November 2021

New York Fed and BIS join hands to launch fintech hub

The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]

Report: Stablecoins, CBDCs may not resolve financial inclusion, international remittance challenges

Stablecoins and central bank digital currencies (CBDCs) may not live up to their promise of increasing financial inclusion and improving cross-border payments in emerging markets, according to a new report by the Bank for International Settlements. Fast facts According to the report, the most important contribution of stablecoins is that they have drawn attention to […]

October 2021

Global bodies propose regulatory standards and greater oversight for stablecoins

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]

September 2021

BIS Innovation Hub, 4 central banks in CBDC test for cross-border transactions

The Bank for International Settlements (BIS) Innovation Hub together with the central banks of Australia, Malaysia, Singapore and South Africa today announced they will be collaborating to test the use of central bank digital currencies (CBDCs) for international settlements. Fast facts According to a joint statement, the pilot is part of Project Dunbar, a wholesale […]

June 2021

What lies ahead for CBDCs, Bitcoin and other digital currencies?

In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?

Basel Committee starts public consultation on banks’ crypto asset exposures

The Basel Committee on Banking Supervision has launched a public consultation on preliminary proposals for the treatment of banks’ crypto asset exposures.

BIS, Swiss and French central banks team up for CBDC Project Jura

The BIS, together with the central banks of France and Switzerland, are collaborating on a wholesale central bank digital currency experiment for cross-border settlements.

March 2021

World’s central banks come together to collaborate on CBDCs

As the world increasingly turns to Bitcoin, stablecoins and other cryptocurrencies, a brain trust of central bankers want to take back control.

What’s in DeFi’s future — and what does it mean for traditional banks?

Will DeFi replace centralized finance, and how might regulators respond? An all-star panel with leaders from SEC, WEF, ConsenSys and USDC explains.

Hong Kong now exploring retail CBDC in upcoming Project Aurum

Hong Kong Monetary Authority intensifies its CBDC efforts with a new study into ‘hybrid’ digital currencies and private CBDC-backed stablecoins.

Fed Chair Powell calls Bitcoin ‘speculative,’ says US not in CBDC rush

Countries around the world are exploring central bank digital currencies. But US and European central bank leaders say they value stability over speed.

February 2021

4 central banks and BIS exploring CBDC bridge for Asia and Middle East

China, UAE, Hong Kong, Thailand and Bank for International Settlements collaborate on ‘m-CBDC Bridge’ digital currency project for cross-border payments.

January 2021

Tether prosecution delayed again. Bitcoin’s false ‘double-spend’ rumors. Brave sends 24 million users to Web 3.0 via IPFS.

Other top blockchain and cryptocurrency news: BIS touts digital currencies. China’s blockchain network to add CBDCs as payment option.