BIS

A report from the Bank of International Settlements indicates that nearly every nation is exploring the possible issuance of CBDCs. As the report reads, more than half of the planet is already developing central bank digital currencies (CBDCs), or running concrete experiments. Covid-19 is reported as an added reason for CBDC development, given their potential role in stabilizing advanced economies. Right now, pandemic supply chain issues and monetary stimulus have led to record inflation in both the European Union and…

While Jerome Powell remains cautious of the stablecoin sector, he has big plans for utilizing cryptocurrency technology for American benefit. In a recent statement, he announced a related partnership between the Federal Reserve and the Bank of International Settlements. Together, the organizations will analyze how Central Bank Digital Currencies (CBDCs) can improve the current global financial system. Powell’s Plans For CBDCs The chairman announced the partnership during his opening remarks for the “Introducing the New York Innovation Center Event,” earlier…

Central Bank Digital Currencies (CBDCs) are the latest financial buzz. Governments want to build them, and many have started. Currently, more governments have started working on CBDCs. Also, the Bank of International Settlements (BIS) is supporting their activities. Less Time, Fewer Costs Earlier this week, the BIS published a report. In the statement, the bank said that CBDCs can help to reduce the delays in international transactions. The report's title was "Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments."…

The Bank of International Settlement (BIS) General Manager, Agustin Carsten, thinks that Central Banks should issue digital currencies. This was revealed in a report published today about digital currencies and the future of the monetary system. Bitcoin Is Not A Suitable Alternative For Money Agustin Carsten's report focused on different aspects of the international monetary system and talked extensively about Bitcoin. According to Agustin, the lure of digital currencies has caused a major divide in the right architecture. Some want…

The Swiss National Bank (SNB) is set to launch a proof-of-concept test for a digital currency in 2020. As reported by a Chinese news outlet, the Swiss apex bank will run the test in collaboration with the Bank for International Settlements (BIS). BIS Chief Benoit Coeure revealed key details on this latest development at the Bund Summit held in Shanghai on Sunday. According to Coeure, the proof-of-concept will be undertaken to analyze how the digital currency would work, and the…