BIS inaugurates Toronto Innovation Centre with Bank of Canada
Bank of Canada Governor Tiff Macklem said that as finance evolves, the industry must innovate and apply new skills, allowing Canadians to benefit from advancements. Go to Source
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Cross Border CBDC Project Mbridge Enters MVP Stage
Project Mbridge, the cross-border central bank digital currency (CBDC) project that seeks to integrate several currencies into a global network, has reached its minimum viable product stage. This means that each one of the participant central banks has deployed a validating node in the network, that is ready to perform real-value transactions CBDC Project Mbridge … Read more
Private firms to join global central bank CBDC project
As Project mBridge enters its MVP phase, BIS is inviting private sector firms to propose new solutions and use cases to further develop and showcase the platform’s potential. Go to Source
Central banks turn to generative AI for enhanced cybersecurity: BIS
Central banks are increasingly adopting generative AI for cybersecurity, with a BIS report indicating that 71% are already using it and more planning to follow. Go to Source
Public blockchain ledgers ‘not fit for purpose,’ says JPMorgan exec
Despite the criticism, TradFi institutions still prefer using public blockchains for real-world asset tokenization. Go to Source
BIS Boss Coins ‘Finternet’ Term, Touts Tokenization as Tool for Solving Today’s Financial System Shortcomings
BIS Head Agustin Carstens and Infosys co-founder Nandan Nilekani have proposed the idea of the “Finternet,” an interconnected financial system led by tokenized assets that would help to overcome today’s shortcomings in transacting financial assets. The core of this system would rely on the possibility of smart contracts managing these assets programmatically. BIS Boss Highlights … Read more
BIS Announces Project Agorá: Central Banks Bet on Tokenization for Cross Border Settlements
The Bank for International Settlements, the central banks’ bank, announced the launch of Project Agorá, a joint private-public initiative seeking to examine the potential benefits of tokenization for improving cross-border settlements. Agorá includes the participation of seven central banks and private institutions to be convened by the Institute of International Finance (IIF). BIS to Explore … Read more
Kazakhstan central bank reviews digital tenge pilot successes, next steps
The digital tenge has been used for everything from free school lunches to tokenizing gold, and there’s more to come. Go to Source
Basel Committee suggests introducing maturity limits for stablecoin reserve assets
Should longer-term assets be allowed as reserve assets, the committee believes these must overcollateralize the claims of stablecoin holders. Go to Source
BIS advises central banks to plan in advance for CBDC security
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider. Go to Source
