41 firms join BIS Project Agora to advance unified ledger applications
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers. Go to Source
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BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring
The proof-of-concept showed that real-time monitoring of stablecoin reserves could be achieved with cooperation among regulators, technologists and issuers. Go to Source
Basel Committee finalizes crypto exposure rules for banks
The committee is unveiling the standards later in July, culminating a yearslong process. Go to Source
BIS Report Warns of Rising Public Debt Risks to Global Economies
The Bank for International Settlements (BIS) Annual Economic Report 2024, published on June 30, highlights the significant risks posed by rising public debt levels across both advanced and emerging market economies. The report stresses that without fiscal consolidation, debt trajectories will remain unsustainable, threatening macroeconomic stability. As interest rates rise, refinancing needs and higher debt … Read more
BIS Survey: 94% of Central Banks Exploring Digital Currency
The latest Bank for International Settlements (BIS) survey reveals that 94% of central banks are exploring central bank digital currencies (CBDCs). There has been a notable increase in wholesale CBDC experiments, especially in advanced economies. Central banks are examining various factors for retail CBDCs, including holding limits and offline functionality. 94% of Surveyed Central Banks … Read more
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
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