Tag: BIS

The Bank for International Settlements (BIS) has progressed its cross-border payments initiative, Project Mandala, a blockchain-based payment solution for cross-border transactions, to the proof-of-concept stage. According to an October 28 statement by the institution, during this proof-of-concept phase, all participant institutions, including commercial banks, central banks and other regulated financial ...

According to a new report by the Bank of International Settlements (BIS), the likelihood of central banks issuing a wholesale CBDC now surpasses the chances of them releasing a retail one. The report, published on June 14, 2024, detailed findings from a survey conducted among 86 central banks between October ...

In a recent report, the Bank for International Settlements (BIS) revealed a significant trend among central banks toward adopting generative artificial intelligence (AI) to bolster cybersecurity measures. According to the report:  "Cyber attacks are increasing in frequency and complexity, with the financial sector being a prime target. Central banks, responsible ...

The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed a collaborative experimental test focused on cross-border trading and settlement involving wholesale central bank digital currencies (CBDCs). According to a report published by the Banque de France on September 28, 2023, the experimental ...

The London Stock Exchange Group (LSEG) is reportedly developing a blockchain-based digital platform for trading financial assets.  Murray Roos, the head of capital markets at the LSEG, stated in an interview with the Financial Times that the Group is now preparing to introduce this innovative offering after nearly a year ...

Central banks worldwide are increasingly embracing the concept of central bank digital currencies (CBDCs), according to a survey report published by the Bank for International Settlements (BIS) on July 10, 2023. The report revealed that 93% of central banks are already engaged in CBDC research, marking a significant shift in ...

The Bank for International Settlements (BIS), the global monetary authority based in Switzerland, has proposed the development of a universal ledger to accommodate Central Bank Digital Currencies (CBDCs) and tokenized assets.  Despite its skepticism towards cryptocurrencies, the BIS believes that regulated tokenization platforms overseen by central banks will play a ...

On April 19, 2023, the Bank of England and the Innovation Hub London Center of the Bank for International Settlements (BIS) published a report on Project Meridian, a successful joint pilot project. The project tested a distributed ledger technology-based system for inter-institutional settlements, which the Bank of England will apply ...