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BIS Boss Coins ‘Finternet’ Term, Touts Tokenization as Tool for Solving Today’s Financial System Shortcomings
17.4.2024
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...
Financial Stability Study Calls for Consistent Regulatory Response to Stablecoins
9.4.2024
Countries have varying definitions and categorizations for stablecoins that may pose a risk to financial stability, the report by the Financial Stability Institute said
BIS Announces Project Agorá: Central Banks Bet on Tokenization for Cross Border Settlements
8.4.2024
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...
Central Bank Group Starts Tokenization Project to Enhance Monetary System
3.4.2024
The project will investigate the integration of tokenized commercial bank deposits with central bank money using smart contracts and programmability, the Bank for International Settlements said
DeFi Borrower Behavior Key to Gauging Tokenization Risks: BIS Study
14.3.2024
The study was designed to look at the largely unexplored "intricacies" of user behavior and dynamics of decentralized finance lending, the authors said
BIS Unveils 2024 CBDC Plans, Project ‘Aurum’ Enters New Phase
24.1.2024
Source: BIS The Bank of International Settlements (BIS) has unveiled that its central bank digital currency (CBDC) is entering a new phase this year. Dubbed ‘Aurum,’ the CBDC project will explore “the privacy of payments in retail CBDCs,” BIS noted. The announcement came Tuesday as a part of BIS’s...
Basel Banking Committee Proposes Stricter Guidelines to Classify Stablecoin as Less Risky Than Unbacked Cryptocurrencies
14.12.2023
BIS building in Basel, Switzerland. Source: Adobe/doganmesut The Basel Committee for Banking Supervision (BCBS) wants to tighten rules to classify stablecoins as less risky assets than Bitcoin (BTC) and other unbacked cryptocurrencies. In a recent consultative paper, the international standard...
Central Banks Aren't Sufficiently Ready for CBDC Risks: BIS Report
30.11.2023
The introduction of central bank digital currencies could have major implications on the stability, the report said
BIS advises central banks to plan in advance for CBDC security
29.11.2023
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider
Project Tourbillon: CBDCs Can Meet Privacy Requirements, BIS Research Reveals
29.11.2023
Source: AdobeStock / Proxima Studio The Bank for International Settlement (BIS) has released the final report on Project Tourbillion, its privacy-inclined Central Bank Digital Currency (CBDC) project. A Nov 29 release shows a pathway to achieving privacy standards in CBDC deployment and usage with...
BIS Innovation Hub presents its ‘private CBDC’ project
29.11.2023
The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms
Central Bank Project Shows CBDC Payments Can Be Private
29.11.2023
The project is a first step in exploring privacy, security and scalability for central bank digital currency design, a report on the BIS initiative said
BIS General Manager Agustin Carstens Touts Tokenization as Part of the Future Financial System
25.11.2023
Agustin Carstens, general manager of the Bank for International Settlements (BIS), has discussed tokenization’s significance in modernizing the current siloed financial system. Carstens stated that only through tokenization can the world move to a more interconnected and programmable...
South Korea to invite 100,000 citizens to test CBDC in 2024
23.11.2023
Participants will be restricted to using the CBDC only for payment, without an option to store, exchange, or send it to other users
Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment
21.11.2023
Source: Adobe Major global central banks, spanning Europe, North America, and other regions, have revealed a significant investment in crypto, with XRP emerging as a preferred digital asset. According to the Basel Committee on Banking Supervision (BCBS), a global regulatory authority on banks,...
‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS
17.11.2023
The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option
CBDCs Like a Digital Dollar Face Doubts Without Privacy Protections, Key Organization Finds
17.11.2023
A study found that privacy increases participants’ willingness to use a CBDC by up to 60% when purchasing privacy-sensitive products
IMF head: CBDCs can replace cash, help financial inclusion
15.11.2023
International Monetary Fund Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies
BIS Research Report: Stablecoins Not Secure as Store of Value
9.11.2023
Stablecoins. Source: Adobe / Grispb Fiat-backed stablecoins are “not a safe store of value,” according to a new research report from the Bank for International Settlements (BIS). According to the report, the BIS found that from January 2019 to September 2023, fiat-backed stablecoins were able...
BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals ‘Poorly Designed and Poorly Supervised Financial Systems’
8.11.2023
In a Wednesday speech in Basel, Switzerland, Bank for International Settlements (BIS) chief Agustín Carstens argued that central bank digital currencies (CBDCs) will “sit at the core of the future financial system,” bringing innovation and meeting public expectations. While Challenges Remain,...