Tagged: bis

January 25, 2023 @ 7:26 pm By Omar Faridi  |  

Decentralized finance (DeFi) builds on distributed ledger technologies (DLT) “to offer services such as trading, lending and investing without using a traditional centralized intermediary,” according to finding shared by the Bank for International Settlements (BIS). The fact that DeFi components can be programmed “may open… Read More

January 4, 2023 @ 11:27 pm By Omar Faridi  |  

Historically, London has enjoyed an “outsized” role in euro-denominated financial transactions, according to an update shared by the Bank for International Settlements (BIS). BIS has examined the latest evidence on whether Brexit has “affected its central role in trading of interest rate derivatives, foreign exchange,… Read More

November 7, 2022 @ 9:43 am By Omar Faridi  |  

The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralized Finance (DeFi) protocols “as part of its 2022 work program.” Project Mariana “explores automated market makers (AMM) for the cross-border exchange of hypothetical Swiss franc, euro and Singapore… Read More

October 14, 2022 @ 6:11 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and Bank Indonesia recently announced the winners of the G20 TechSprint 2022 challenge during a live award ceremony in Jakarta. This year’s competition, under the Indonesian G20 Presidency, was launched in April to catalyze new technologies that “would better… Read More

October 2, 2022 @ 11:56 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden are launching Project Icebreaker, a joint exploration of how central bank digital currencies (CBDCs) can be “used for international retail and remittance payments.” Cross-border payments “continue to be plagued by… Read More

September 20, 2022 @ 11:10 pm By Omar Faridi  |  

The BIS Innovation Hub’s Hong Kong Centre and the Hong Kong Monetary Authority have introduced Project Dynamo, which aims “to deliver a prototype for the compliant use of decentralized finance (DeFi) tools, such as blockchain and smart contracts, to improve access to finance for unfunded… Read More

July 13, 2022 @ 1:49 pm By JD Alois  |  

IOSCO or the International Organization of Securities Commissions and the Bank for International Settlements (BIS) – Committee on Payments and Market Infrastructures (CPMI) have published final guidance on stablecoins. The guidance follows a proposal for consultation in 2021. The publication is called a “major step… Read More

July 11, 2022 @ 9:42 am By JD Alois  |  

The Bank for International Settlements (BIS) has issued a report on the interoperability of central bank digital currencies or CBDCs. While few countries have issued a CBDC, just about all developed countries, and some developing ones, are investigating the possibility of migrating fiat to a… Read More

June 18, 2022 @ 3:03 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) Innovation Hub is announcing a new set of projects across its various centers, “updating its 2022 work program.” They include the first three projects of the upcoming Eurosystem Centre and the first in-depth explorations in cybersecurity. The Eurosystem Centre… Read More

March 1, 2022 @ 12:01 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF), part of the University of Cambridge, has launched a new public-private collaboration involving banks, public agencies, and private organizations aiming to provide insight into the emerging digital asset ecosystem. The mission is to help guide public opinion, inform… Read More

January 14, 2022 @ 1:42 pm By JD Alois  |  

The Swiss National Bank (SNB) has successfully tested wholesale CBCD [central bank digital currency] settlement in a partnership with the Bank for International Settlements (BIS) and SIX (parent of the Swiss Stock Exchange). The test was completed during Q4 2021. The project utilized SDX, the… Read More

January 7, 2022 @ 3:15 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) has appointed Raphael Auer as the Head of Innovation Hub Eurosystem Centre. Auer is presently a principal economist in the Innovation and the Digital Economy division of the BIS’s Monetary and Economic Department. He has “contributed extensively to BIS… Read More

December 27, 2021 @ 10:37 pm By Omar Faridi  |  

The Irving Fisher Committee or IFC report, shared by the BIS, has summarized the results of a survey carried out on sustainable finance statistics among its members. There were 63 answers, offering extensive information for 28 advanced economies (AEs) and 31 emerging market economies (EMEs)…. Read More

October 6, 2021 @ 10:51 am By JD Alois  |  

Stablecoins, typically described as digital assets pegged to another asset or basket of assets, are designed to replicate a fiat currency in a digital environment. Stablecoins are frequently utilized in the digital asset sector to seamlessly move between other crypto-assets and into an asset that… Read More

September 28, 2021 @ 9:36 am By JD Alois  |  

The BIS (Bank for International Settlements) has published a report pertaining to central bank digital currency (CBDC) and payments. Crafted in partnership with the HKMA (Hong Kong Monetary Authority), Bank of Thailand, People’s Bank of China and the Central Bank of the UAE, the document… Read More

July 7, 2021 @ 5:18 pm By Omar Faridi  |  

The Bank for International Settlements (BIS), a global financial institution that’s owned by reserve banks and aims to “foster international monetary and financial cooperation and serves as a bank for central banks,” notes that advancements in technology, along with rising demand for digital payment methods… Read More

June 12, 2021 @ 10:42 am By Omar Faridi  |  

The Bank for International Settlements (BIS) and the Bank of England (BoE) revealed on June 11, 2021, that they’ve introduced the BIS Innovation Hub London Centre, which is notably the fourth Innovation Hub Centre to have been launched in the last couple years. The BIS… Read More

April 2, 2021 @ 4:22 pm By Omar Faridi  |  

Reserve banks across the globe are increasingly focusing on developing or at least considering central bank digital currencies (CBDCs). They’re also looking into potential new ways to use virtual currencies to enhance the cross-border payments infrastructure. During the past few years, CBDCs have become one… Read More

February 3, 2021 @ 7:53 am By Omar Faridi  |  

Existing virtual currencies are unlikely to last, according to Bank of England governor Andrew Bailey. Decentralized cryptocurrencies like Bitcoin (BTC) or Bitcoin Cash (BCH) don’t have the appropriate structure to work as a viable long-term payments method, according to Bank of England (BoE) governor Andrew… Read More

January 5, 2021 @ 10:04 pm By Omar Faridi  |  

The Bank for International Settlements (BIS), a global financial institution that’s owned by reserve banks and aims to “foster international monetary and financial cooperation and serves as a bank for central banks,” is reportedly developing a data-streaming prototype that will be able to handle 2,000… Read More