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The Bank for International Settlements’ (BIS) says stablecoin payment systems should comply with international standards for payment, clearing and settlement.A new report published Wednesday by the BIS Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) includes preliminary guidance on how to apply the
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According to the report, risks to financial stability depend on the take-up, or rate of adoption, of a CBDC as well as bank funding, lending and resilience. If take-up is too fast, it could throw the existing financial and banking systems out of balance, the report says. The prevailing fear
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The Bank for International Settlements (BIS) continues investigating the development of the global central bank digital currency (CBDC), publishing a new joint report with seven central banks.Released Sept. 30, BIS’ latest CBDC report refers to joint efforts to explore a retail CBDC alongside the Bank of Canada, the Bank of
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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
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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
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The Bank of International Settlements (BIS) has released the blueprint of its instant cross-border payments solution dubbed Nexus. The BIS Innovation Hub says the Nexus solution will connect with Instant Payment Systems (IPSs) across nations to offer users superfast cross-border payments. BIS Launching Cross-Border Payments System The proliferation of distributed ledger technology
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The monetary revolution will be digitized … but for the vast majority of earthlings likely not anytime soon, according to central bank digital currency (CBDC) research published Wednesday by the Bank for International Settlements (BIS).To get there, though, 86% of the central banks surveyed in BIS’ third annual CBDC questionnaire
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The chief banker at the bank for central banks, Agustín Carstens, cast doubt on bitcoin’s long-term viability Wednesday, saying it was only a matter of time before a 51% attack brings down the world’s original cryptocurrency.Carstens’ comments, which he delivered to the Hoover Institute, underscored his belief that bitcoin fails
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Central bank digital currencies, or CBDCs, are entering the “advanced stages” of engagement as nations around the world look to capitalize on blockchain technology, according to a new report by the Bank for International Settlements.In its latest survey of CBDC development, the BIS shows that central banks representing roughly a
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The new platform was announced as part of the BIS Innovation Hub's priorities and programs for 2021. Source
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