Innovation HUB News

The Bank for International Settlements is advancing major digital currency pilots, testing cross-border CBDCs, tokenized deposits and real-time payment rails.

The GFTN is established as the second phase of Singapore’s fintech growth initiative, which focuses heavily on payments, asset tokenization, AI and quantum computing.

The lawmaker said the regulation will need to be both “pragmatic” and “proportionate” to ensure economic growth is maximized.

The initiative promises to provide Web3 startups with access to corporate, government, and investment partners in both global markets and the UAE.

Jerome Powell cited CBDCs and digital assets in his speech to open the New York Innovation Center at the Federal Reserve’s local offices.