Central banks favor legacy instant payment systems over CBDCs
TradFi looks safe on the international payments market for the foreseeable future, despite advances in blockchain solutions.This post was originally published on this site
BIS Drops Mbridge Project Participation: It Was ‘Not Created to Serve the BRICS’
The BIS announced it was abandoning Mbridge, a project aimed at using CBDCs to interconnect the financial systems of several countries, due to its potential to help BRICS nations sidestep economic sanctions. BIS Abandons Mbridge Project for Potential BRICS Sanctions-Evading Applications The Bank for International Settlements (BIS) has finally decided to abandon its participation in […]
BIS distances from Project mBridge amid BRICS sanctions concerns
Economic sanctions have a profound effect on international financial architecture, it turns out.This post was originally published on this site
BIS Considers Ending Mbridge Project Over BRICS Connections, but Is It Too Late?
While conversations about ending the CBDC-enabled international settlements project have focused on its links to BRICS, Mbridge has already reached the MVP stage, and members could choose to continue it without support from the BIS. BIS Considers Ending Mbridge Project, BRICS Countries Could Use It for Circumventing Sanctions The Bank for International Settlements (BIS) is […]
International agencies report on tokenization to G20 officials
The Bank for International Settlements and the Financial Stability Board have similar views on tokenization — it could provide new benefits and familiar challenges.This post was originally published on this site
41 firms join BIS Project Agora to advance unified ledger applications
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.This post was originally published on this site
41 firms join BIS Project Agora to advance unified ledger applications
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.This post was originally published on this site
BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring
The proof-of-concept showed that real-time monitoring of stablecoin reserves could be achieved with cooperation among regulators, technologists and issuers.This post was originally published on this site
Basel Committee finalizes crypto exposure rules for banks
The committee is unveiling the standards later in July, culminating a yearslong process.This post was originally published on this site
BIS Survey: 94% of Central Banks Exploring Digital Currency
The latest Bank for International Settlements (BIS) survey reveals that 94% of central banks are exploring central bank digital currencies (CBDCs). There has been a notable increase in wholesale CBDC experiments, especially in advanced economies. Central banks are examining various factors for retail CBDCs, including holding limits and offline functionality. 94% of Surveyed Central Banks […]