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November 21, 2024
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Retail Fast Payment Systems as a Catalyst for Digital Finance
BIS
"The rise of digital technologies is challenging the dominance of traditional financial institutions, such as banks. Payments have been the most deeply impacted, and a number of initiatives aim to further increase their speed and convenience. Retail fast payment systems (FPS) offer one prominent example."
November 15, 2024
On the web
Why Is BIS Having Second Thoughts About mBridge?
Kapronasia
"Ever since the China-led central bank digital currency project mBridge was launched several years ago, there have been whispers that its ultimate goal was to develop an alternative payments rail that could circumvent the U.S.-dominated international financial system. That is because mBridge aims to establish direct links between the central banks of its participants, allowing money to be sent outside of the existing correspondent banking system."
November 14, 2024
On the web
Project Mbridge Reached Minimum Viable Product Stage
BIS
"Project mBridge reached the minimum viable product (MVP) stage in mid-2024. The project aimed to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement."
November 5, 2024
On the web
Project Nexus: Enabling Instant Cross-Border Payments
BIS
"In over 70 countries today domestic payments reach their destination in seconds at near-zero cost to the sender or recipient. This is thanks to the growing availability of instant payment systems (IPS). Connecting these IPS to each other can enable cross-border payments from Sender to Recipient within 60 seconds (in most cases)."
November 1, 2024
On the web
Statistical Release: BIS International Banking Statistics and Global Liquidity Indicators at End-June 2024
BIS
"Global cross-border bank claims changed little during the second quarter of 2024. Claims dropped by a modest $11 billion following a surge in the previous quarter."
October 21, 2024
On the web
Tokenisation in the Context of Money and Other Assets: Concepts and Implications for Central Banks
BIS
"The growth in projects and experiments in regulated financial markets has increased the relevance of tokenisation for central banks. This report was prepared by the Bank for International Settlements (BIS) and its Committee on Payments and Market Infrastructures for the Brazilian G20 Presidency. The report sets out the concepts related to digital tokens and programmable platforms."
October 16, 2024
On the web
Project Aperta: Enabling Cross-Border Data Portability Through Open Finance Interoperability
BIS
"The Bank for International Settlements (BIS) is launching Project Aperta to explore how to reduce frictions and costs in global finance by enabling seamless cross-border data portability. The project aims to connect the domestic open finance infrastructures of different jurisdictions."
October 15, 2024
On the web
Linking Fast Payment Systems Across Borders: Governance and Oversight – Final Report
BIS
"This report - a key deliverable under the G20 cross-border payments programme - aims to inform owners and operators of fast payment systems (FPS) when they are developing the governance and risk management of their FPS interlinking arrangement as well as overseers when they are defining their oversight approach."
August 28, 2024
On the web
Novel Risks, Mitigants and Uncertainties With Permissionless Distributed Ledger Technologies
BIS
"Banks that transact on permissionless blockchains or similar distributed ledger technologies (DLTs) face various risks. This paper considers the risks related to operations and security, governance, legal, compliance (including money laundering/financing of terrorism) and settlement finality."
August 20, 2024
On the web
BIS London Centre to Develop ISO 20022 Data Analytics Platform
Global Government Fintech
"‘Project Keystone’, whose details were announced, is a Bank for International Settlements (BIS) Innovation Hub London centre initiative in co-operation with the Bank of England (the centre’s host authority)."
August 2, 2024
On the web
BIS Project Nexus: Governors See Potential to Enable Instant Cross-Border Payments [Video]
YouTube
"Project Nexus aims to connect domestic instant payment systems to improve the speed, cost, transparency of and access to cross-border payments."
July 8, 2024
On the web
Digital Payments, Informality and Economic Growth
BIS
"Digital payments have become quite popular in advanced economies, but their rapid growth in emerging market and developing economies (EMDEs) is especially noteworthy. Between 2014 and 2021, the number of adults in EMDEs using digital payments increased from 35% to 57%."
July 1, 2024
On the web
Project Nexus Completes Comprehensive Blueprint for Connecting Domestic Instant Payment Systems Globally and Prepares for Work Towards Live Implementation
MAS
"The Bank for International Settlements (BIS) and partners announced that they have completed the comprehensive blueprint for phase three of Project Nexus, which will allow ready participants to work towards the next stage of seamlessly connecting their instant payment systems."
June 14, 2024
On the web
Embracing Diversity, Advancing Together - Results of the 2023 BIS Survey on Central Bank Digital Currencies and Crypto
BIS
"Ninety-four percent of surveyed central banks are exploring a central bank digital currency (CBDC). The survey suggests that central banks are proceeding at their own speed, taking diverse approaches and considering different design features."
June 4, 2024
On the web
Project Rialto: Improving Instant Cross-Border Payments Using Wholesale CBDC Settlement
BIS
"The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange (FX) component combined with settlement in wholesale central bank digital currencies (wCBDC)."
May 30, 2024
On the web
Next Generation Correspondent Banking
BIS
"Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model. The tokenisation of correspondent banking, as embodied in Project Agorá (BIS), could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering procedures."
May 23, 2024
On the web
Regional Payment Infrastructure Integration: Insights for Interlinking Fast Payment Systems
BIS
"Interlinking payment systems with new common platforms can support payment infrastructure integration across borders. These are not new concepts, but recent advancements in technology may increase the efficiency and decrease the cost of such arrangements."
May 16, 2024
On the web
Digitalisation of Finance
BIS
"The Basel Committee on Banking Supervision has published a report which considers the implications of the ongoing digitalisation of finance on banks and supervision."
May 15, 2024
On the web
BIS, Central Banks and the IIF Invite Private Financial Institutions to Join Project Agorá
BIS
"Project Agorá, launched by the Bank for International Settlements (BIS) is inviting the private sector to join its exploration of how tokenisation can enhance the functioning of wholesale cross-border payments."
May 3, 2024
On the web
Project Mandala: Shaping the Future of Cross-Border Payments Compliance
BIS
"Project Mandala explores the feasibility of encoding jurisdiction-specific policy and regulatory requirements into a common protocol for cross-border transactions such as borrowing, foreign direct investment, or payments."
April 9, 2024
On the web
Stablecoins: Regulatory Responses to Their Promise of Stability [BIS]
BIS
"As the stablecoin market continues to evolve in its quest to offer a means of payment, national and international regulatory bodies are responding to these developments by implementing a comprehensive suite of measures aimed at mitigating the risks associated with stablecoin issuance."
April 3, 2024
On the web
Project Agorá: Central Banks and Banking Sector Embark on Major Project to Explore Tokenisation of Cross-Border Payments
BIS
"Project Agorá will explore how tokenisation of wholesale central bank money and commercial bank deposits on programmable platforms can improve the monetary system."
March 8, 2024
On the web
Project Aurum 2.0: Improving Privacy for Retail CBDCPayment
BIS
"The BIS Innovation Hub Hong Kong centre has launched the second phase of Project Aurum, in collaboration with the Hong Kong Monetary Authority. Project Aurum 2.0 will now focus on how to enhance privacy for retail central bank digital currencies (CBDC)."
January 23, 2024
On the web
BIS Innovation Hub Announces First Six Projects for 2024 Work Programme
BIS
"The Bank for International Settlements (BIS) today announced the first batch of six new projects in its 2024 Innovation Hub work programme, including experimentations on cyber security, fighting financial crime, central bank digital currencies (CBDCs) and green finance."
December 6, 2023
On the wires
Digital Bank Robberies Key Risk for Central Bank E-Money, BIS Report Warns
Reuters
"Digital bank robberies and other cyber hacks will be a key risk for countries launching digital versions of their currencies, a new report from the Bank for International Settlements has warned."
November 30, 2023
On the wires
Digital Bank Robberies Key Risk for Central Bank E-money, BIS Report Warns
Reuters
"Digital bank robberies and other cyber hacks will be a key risk for countries launching digital versions of their currencies, a new report from the Bank for International Settlements has warned."
November 29, 2023
On the web
Project Tourbillon Demonstrates Cash-Like Anonymity for Retail CBDC
BIS
"Project Tourbillon, developed by the Bank for International Settlements (BIS) Innovation Hub Swiss Centre, demonstrates a new privacy paradigm for retail central bank digital currencies (CBDC). The experiment proposes a concept of payer anonymity, providing cash-like anonymity to the payer."
November 10, 2023
On the web
Will the Real Stablecoin Please Stand Up?
BIS
"Do stablecoins live up to their name and can they serve as a reliable means of payment and store of value? Senior Economist Anneke Kosse discusses these questions based on the BIS paper "Will the real stablecoin please stand up?"
October 23, 2023
On the web
Cross Border CBDC, mBridge and the Coming Payments Fragmentation
Ledger Insights
"There’s been much talk about the coming fragmentation of payments. A key driver is geopolitics and the use of Swift for sanctions."
October 17, 2023
On the web
Committee on Payments and Market Infrastructures (CPMI) Sets Out Harmonised ISO 20022 Data Requirements for Enhancing Cross-Border Payments
BIS
"CPMI publishes harmonised ISO 20022 data requirements, establishing a consistent minimum set of messaging data for more efficient cross-border payments."
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