Interest in retail CBDCs has dwindled significantly over the past two years, a new report by the Bank for International Settlements (BIS) has found. BIS surveyed 86 central banks globally on the trends that emerged in 2023 in CBDCs and digital assets. The banks also shared insights into their interaction with stablecoins and the future…
The Bank for International Settlements (BIS) has launched a new Innovation Hub in Toronto, its first in the Americas and seventh globally. BIS Innovation Hubs work with central banks to improve the functioning of financial systems. The initiative started in 2019 with three centers in Switzerland, Hong Kong, and Singapore. In 2021, two more were…
The Bank for International Settlements (BIS) recently announced that its mBridge cross-border CBDC project had entered the Minimum Viable Product (MVP) stage. It also announced that the central bank of Saudi Arabia had joined China, Hong Kong, the United Arab Emirates and Thailand, becoming the fifth central bank to do so. Since then, multiple prominent…