BIS – Page 9 – DIGIT INFO

Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial

Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms. France and Switzerland Explore Direct Transfer of Euro, Swiss Franc Wholesale Digital Currencies […]

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Bank for International Settlements States True Decentralized Finance Is an ‘Illusion’

The Bank for International Settlements (BIS), a finance organization comprised of several central banks, has stated that while the objective of decentralized finance is to move control of financial tools away from current financial institutions, it just provides an ‘illusion’ of doing so. The organization argues that there is some kind of centralization around governance […]

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Bank of International Settlement calls the rise of decentralized finance ‘an illusion’ in latest quarterly review

Even though the total value locked in DeFi protocols has eclipsed $246 billion, it was not enough to please the BIS.

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BIS Innovation Hub partners with Fed to support analysis of digital assets

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

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Law Decoded: Infrastructure woes and benevolent punishments, Sept. 27–Oct. 3

As House Democrats grapple over the infrastructure bill, the Biden administration and Federal Reserve eye stablecoin regulation.

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Global CBDC bridge needs public and private cooperation, says BIS

Cooperation between public and private sectors would be vital for a global CBDC system, says a new joint report.

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‘Faster and Cheaper Cross-Border Transfers’ — Banking Report Led by BIS Highlights the Benefits of Cryptocurrency

According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the banking group leveraged a prototype that shows how money transfers can be done in seconds with very little processing fees. Inexpensive Transfers & Speed: Bank […]

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CBDCs could cut cross border remittance costs by half: BIS report

The BIS report based on a multi-CBDC pilot also showed significant improvements in international remittance speed.

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It’s now or never — The US has to prepare itself for digital currency

If the United States is still not ready for central bank digital currency, it will stay on the sidelines of tech and financial innovations.

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BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

BIS Asks Central Banks to Urgently Develop CBDCs to Avoid Falling Behind Cryptocurrencies

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said. BIS Says […]

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