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Central banks poised to lead digital currency revolution as BIS advocates for CBDC development

Central banks poised to lead digital currency revolution as BIS advocates for CBDC development

Agustín Carstens, the General Manager of the Bank for International Settlements (BIS), has highlighted the pressing need for central banks to embrace and lead the digital transformation in the financial sector. Addressing a conference in Basel, Switzerland, Carstens identified central bank digital currencies (CBDCs) as a pivotal element in this evolutionary process. His speech underscored […]

Bank for International Settlements Calls for AI Solutions in ‘COP28 UAE TechSprint

AI Solutions

The Bank for International Settlements (BIS) has embarked on an ambitious journey to combat climate change and advance sustainable finance through the “COP28 UAE TechSprint” initiative. This global competition challenges developers to harness the power of artificial intelligence (AI), Internet of Things (IoT), and blockchain technologies to find innovative solutions to pressing environmental and financial […]

BIS releases report on protecting CBDCs against DeFi cyber attacks

BIS releases its report on protecting CBDCs against DeFi cyber attacks (1)

The Bank of International Settlements(BIS) has released a report detailing its plan to protect central bank digital currencies(CBDCs) against hacks and breaches affecting decentralized finance. The report highlights that CBDCs would be considered a critical national infrastructure, similar to the treatment of real-time gross settlement (RTGS) systems. Protecting CBDCs from DeFi cyber attacks The BIS […]

7 Central Banks and BIS dive deep into policy matters for retail CBDCs

CBDCs

In a collaborative effort to advance the understanding and implementation of retail Central Bank Digital Currencies (CBDCs), seven central banks and the Bank for International Settlements (BIS) are actively examining ongoing policy issues surrounding this transformative financial technology. The exploration of CBDCs comes at a time when digital currencies have gained significant attention worldwide, offering […]

G20 group: IMF, FSB, and BIS set to release joint comprehensive crypto regulatory policy

G20 group: IMF, FSB, and BIS set to release joint comprehensive crypto regulatory policy

On February 25, the G20 group announced that the Financial Stability Board (FSB), International Monetary Fund (IMF), and Bank for International Settlements (BIS) would be delivering papers and recommendations to establish a global crypto regulatory framework. The FSB is expected to release, by July 2023, their proposals for the regulation, supervision, and oversight of global […]

Blockchain experts: the Bank for International Settlements’ new hope

BIS

BIS, one of the most important banking institutions in the world, is hiring blockchain experts New hirings will be leads of development projects employing the blockchain technology It can be expected that such projects will be adopted by central banks of major economies The Bank for International Settlements (BIS) has today announced that they are […]

BIS researchers forecast adoption of digital payments amid Covid-19

Coinbase to roll out Bitcoin backed cash loan soon

Bank for International Settlements (BIS) researchers have reiterated reports that the coronavirus could be spread through physical cash; hence, it could eventually result in the adoption of digital payments.  Coronavirus pushes adoption of digital payments In accordance with the Bulletin recently released by BIS, the researchers noted that the impact of the virus is slowly […]

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