Latest BIS News

  • BIS Plans New Central Banking Fintech Research Hubs in Europe, North America
    BIS Plans New Central Banking Fintech Research Hubs in Europe, North America
    The Bank for International Settlements is expanding its “Innovation Hub” with a handful of new locations in Canada and Europe.
  • CBDCs Might Increase Central Banks' Footprint on Financial System - BIS
    CBDCs Might Increase Central Banks' Footprint on Financial System - BIS
    The introduction of central bank digital currencies (CBDCs) could potentially lead to central bank expanding its footprint on the financial system, according to Economic Adviser and Head of Research at the "central bank of central banks," the Bank for International Settlements (BIS).
  • Central Bank Digital Currencies Could be Next Step in Evolution of Money, BIS Reports
    Central Bank Digital Currencies Could be Next Step in Evolution of Money, BIS Reports
    The Bank for International Settlements (BIS) says central bank digital currencies (CBDCs), which are new forms of digital fiat guaranteed by governments, could be the future of money.
  • Not Like Before: Digital Currencies Debut Amid COVID-19
    Not Like Before: Digital Currencies Debut Amid COVID-19
    The coronavirus pandemic has forced governments worldwide to focus on bringing blockchain tech to their financial services. Famed currency speculator George Soros, who in 1992 broke the Bank of England to emerge a billionaire overnight by forcing the pound out of the European Exchange Rate Mechanism, believes: “We will not go back to where we were when the pandemic started.
  • How Global Stablecoins Can Promote Financial Stability in the World
    How Global Stablecoins Can Promote Financial Stability in the World
    Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets. In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins.
  • COVID-19 Highlights the Need For Central Bank Digital Currency, BIS Reports
    COVID-19 Highlights the Need For Central Bank Digital Currency, BIS Reports
    In its latest report, the Bank of International Settlements doubled-down on its narrative that the COVID-19 pandemic has exemplified the need for central banks to accelerate the development of central bank digital currencies (CBDCs).
  • Stablecoins are not driving central bank digital currency race: BIS report
    Stablecoins are not driving central bank digital currency race: BIS report
    The BIS has said in a new report that CBDCs could be what central banks around the world need.
  • CBDC Issuance Is ‘Not a Reaction’ to Libra, Says Central Bank Body
    CBDC Issuance Is ‘Not a Reaction’ to Libra, Says Central Bank Body
    The Bank for International Settlements appeared to contradict its own prior statements in a new digital payments report.
  • BIS Expects COVID-19 Crisis to Boost CBDC Development Worldwide
    BIS Expects COVID-19 Crisis to Boost CBDC Development Worldwide
    The Bank for International Settlements expects the COVID-19 crisis’ impact on retail payments to have a positive effect on central bank digital currency development. The Bank for International Settlements (BIS) expects the COVID-19 crisis’ impact on retail payments to have a knock-on effect on the development of central bank digital currencies (CBDC). The BIS is an organization based in Switzerland made up of 60 of the world’s central banks, and has previously released a number of major reports focused on both decentralized cryptocurrencies and CBDCs.
  • Bank for International Settlements Calls CBDCs a Potential ‘Sea Change’
    Bank for International Settlements Calls CBDCs a Potential ‘Sea Change’
    The leading global central bank institution has published new research on central bank digital currencies, noting a major shift in their direction thanks to Libra as well as COVID-19. In advance of its coming annual report, on June 24 the Bank for International Settlements released a special chapter from that report on digital payments — especially central bank digital currencies, a topic that’s attracted tremendous interest in recent months. The report encourages central banks to treat CBDCs as their future, saying: “One option at the frontier of policy opportunities is the issuance of CBDCs, which could amount to a sea change.” A recent shift in favor of CBDCs The BIS found that there had been a major bullish shift in sentiment for CBDCs since the beginning of this year as measured by speeches referring to them positively or negatively. Source: Bank for International Settlements The COVID-19 pandemic has factored into this shift, the report says, citing increased precautionary holdings of cash, commerce moving online, and the fact that “public concerns about viral transmission from cash have risen.” Given quantitative easing injections all over the world looking to stimulate economies in crisis, the report’s statement that “today the central banks’ role is as important as ever, if not more so” seems especially apt. Libra, China and the global competition Facebook’s Libra looms large in this shift.