BIS News

The coronavirus pandemic has forced governments worldwide to focus on bringing blockchain tech to their financial services.

Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets.

The leading global central bank institution has published new research on central bank digital currencies, noting a major shift in their direction thanks to Libra as well as COVID-19.

Crypto has turned from an inevitable future to our happening present, and stablecoins may become the industry’s cornerstone.

BIS Innovation Hub head asserted the decline of cash use amid the pandemic has renewed the pertinence of bank-issued digital currencies.

Researchers at the Bank for International Settlements think that crypto prices respond well to clear regulation, though they drop when governments issue bans.

Amid growing concerns regarding the transmission of COVID-19, the Bank of International Settlements is pushing for digital currencies.

Sweden’s central bank wants to join Switzerland, Singapore and Hong Kong in hosting the BIS innovation hub.

None of the 17 ongoing global CBDC projects goes beyond the central bank’s jurisdiction, according to BIS research.

The operator of the National Stock Exchange of Australia is working on a joint blockchain-based project to enable same-day settlements.

The BIS has appointed heads of the BIS Innovation Hub’s centers in Singapore and Switzerland, which focus on CBDC and DLT research.

While banks in emerging markets are moving more rapidly toward issuing CBDCs, other countries appear to be taking a more cautious stance.

The Bank of International Settlements’s new survey revealed that only 10% of central banks are likely to issue a CBDC for the general public in the short term.

Six major central banks and the Bank for International Settlements jointly created a digital currency research group.

General manager at the BIS Agustin Carstens seems to have changed his negative stance towards CBDCs, now saying that such currencies could open up new possibilities.