Tagged: bis

Cambridge Centre for Alternative Finance Launches Public-Private Partnership on Digital Asset Ecosystem

Bryan Zhang CCAF 2019

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

Project Helvetia: Swiss National Bank, Along with SIX and BIS, Test CBDC Settlement

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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

Bank for International Settlements Appoints Raphael Auer as Head of Innovation Hub Eurosystem Centre

Bank for International Settlements BIS Basel Switzerland

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

Sustainable Finance Data for Central Banks Shared in Latest IFC Report

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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

International Organization of Securities Commissions Issues Report on Stablecoins as Regulation is Certain

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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

BIS Publishes Report on CBDCs for International Payments: “A substantial improvement in cross-border transfer speed”

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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

BIS Says Volatile Cryptos like Bitcoin Failed as Payment Method, but Stablecoins, CBDCs May be Effective for Transactions

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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

Bank of England and Bank for International Settlements Establish Innovation Hub in London

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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

CBDCs: Bank of International Settlements Explains how Interoperability and Common Interfaces are Needed for Central Bank Digital Currencies

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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

Central Bank Officials are Not Confident in Bitcoin or Other Digital Currencies’ Ability to Serve as Legitimate Financial Instruments

Andrew Bailey

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

Financial Data Streaming Prototype for Handling 2,000 Data Points Per Second Now Being Developed by Bank for International Settlements

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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

Cambridge Centre for Alternative Finance, World Bank and World Economic Forum Present Global Study on COVID-19 Impact on Fintech

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The Cambridge Centre for Alternative Finance (CCAF), along with its partners the World Bank and the World Economic Forum, hosted a presentation this week outlining its findings in a study reviewing the COVID-19 pandemic and its impact on the Fintech industry. The survey was launched… Read More

Jerome Powell on Central Bank Digital Currency: We are committed to considering a CBDC and its benefits

Jerome Powell on IMF Panel on CBDCs

Jerome Powell, Chairman of the Board of Governors of the US Federal Reserve, participated in a virtual panel today hosted by the International Monetary Fund (IMF) on the topic of Central Bank Digital Currency (CBDCs). Powell said the Fed is committed to considering a CBDC… Read More

Retail Focused Central Bank Digital Currencies are “More Advanced” where Informal Economy is Larger: BIS Report

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The Bank for International Settlements (BIS), a global financial institution owned by reserve banks that aims to support international monetary and financial cooperation and acts as a bank for central banks, has noted that central bank digital currencies (CBDCs) are now “in the limelight.” However,… Read More

Bank for International Settlements Innovation Hub Partners with Hong Kong Monetary Authority on Trade Finance TechChallenge

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The Bank for International Settlements Innovation Hub (BISIH) Centre in Hong Kong and the Hong Kong Monetary Authority (HKMA) have partnered on a trade finance project to highlight the opportunity to improve the sector of finance with technology. The “TechChallenge — Digitising Trade Finance” is… Read More

Internationally Comparable Information on Fintech Is “Lacking in Offical Statistics,” Bank for International Settlements Explains

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  The Bank for International Settlements (BIS), a global financial institution owned by reserve banks that aims to support international monetary and financial cooperation and acts as a bank for central banks, notes that as financial technology, or financial innovation and digitalization, begin to transform… Read More

Cross-Border Payments and Market Infrastructure Report from BIS Says Current Challenges with International Money Transfers will be Addressed at G20

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The emergence of new Fintech industry participants such as the Facebook-led Libra project have made it clear that the existing, global cross-border payments system can be improved. A Bank for International Settlements (BIS) committee report on Payments and Market Infrastructure (CPMI) has noted that countries… Read More

BIS Innovation Hub Set to Expand With New Locations in Europe & North America

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The Board of the Bank for International Settlements (BIS) announced on Tuesday plans to expand the BIS Innovation Hub with the establishment of new Hub centers across Europe and in North America in cooperation with member central banks. BIS revealed that within the next two… Read More

Central Bank Digital Currencies Increasingly Being Considered by Governments, as AML/CFT Regulations Tighten: Report

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New York-based BitOoda, a digital asset and Fintech firm, recently published its cryptocurrency market regulatory analysis report. Governments throughout the world are struggling to deal with the devastating economic consequences of the deadly Coronavirus (COVID-19) pandemic. The BitOoda team reveals: “We’ve noted an uptick in… Read More

COVID-19 Prevention: Scientific Evidence Suggests Risk of Coronavirus Transmission from Physical Bank Notes is Relatively Low

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Although the public seems concerned that the Coronavirus (COVID-19) may be transmitted by handling physical cash, scientific evidence indicates that the risk is relatively low when compared with various other frequently touched objects, such as PIN pads. A paper recently published by the Bank for… Read More

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