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March 6, 2024
On the web
Fast Payments: Design and Adoption
BIS
"The payments landscape is evolving rapidly, and fast payment systems (FPS) have emerged as a key innovation...In this article we lay out the main design features of FPS that may foster adoption."
February 13, 2024
On the web
Tap, Click and Pay: How Digital Payments Seize the Day
BIS
"This CPMI Brief highlights key payment trends as observed in the 2022 Red Book statistics."
October 5, 2023
On the web
BIS and Central Bank Partners to Explore Protocols for Embedding Policy and Regulatory Compliance in Cross-border Transactions
Reserve Bank of Australia
"Project Mandala looks to automate compliance procedures, provide real-time transaction monitoring and increase transparency and visibility around country-specific policies."
September 28, 2023
On the web
Legal Fog Over Central Bank Digital Currencies "Unacceptable", BIS warns
Reuters
"Developing national digital currencies are at risk due to a lack of legal powers to issue them in most of the world, the head of the global central bank, the Bank for International Settlements, warned on Wednesday. While countries have laws on banknotes, coins and credit balances, an IMF paper in 2020 showed that close to 80% of central banks are either not allowed to issue a digital currency under their existing laws, or the legal framework is unclear."
Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi
Coindesk
"The Bank for International Settlements alongside the central banks of France, Singapore and Switzerland tested out using wholesale CBDC to conduct cross border trading...With more and more nations exploring issuing a wholesale CBDC Project Mariana wanted to test out how foreign and exchange settlement might look in a world where central banks have issued a CBDC."
June 29, 2023
On the web
Project Mariana: Cross-Border Exchange of Wholesale CBDCs Using Automated Market-Makers [BIS]
BIS
"Project Mariana is the first BIS Innovation Hub cross-centre project, bringing together the Switzerland, Singapore and Eurosystem Centres, together with the Bank of France, the Monetary Authority of Singapore and the Swiss National Bank."
June 27, 2023
On the web
Quant Launches Overledger Platform
Quant
"Today, we unveiled Overledger Platform, making the same enterprise-grade technology that has underpinned our projects with institutional and central bank customers to-date, accessible to large enterprises, SMEs and developers for the first time. We are proud to unveil Overledger Platform: the infrastructure used in Project Rosalind – the Bank of England and Bank for International Settlements’ retail CBDC project – available to all via software-as-a-service."
On the wires
UST Delivers API Prototypes for Retail Central Bank Digital Currency (CBDC) experimentation for the Bank of International Settlement and Bank of England
PR Newswire
"UST, a leading digital transformation solutions company, has announced its role as an Innovation vendor for Project Rosalind , an experiment in application programming interface (API) prototypes for central bank digital currencies (CBDC) from the Bank for International Settlements (BIS) and the Bank of England (BOE) via the BIS Innovation Hub London Centre."
June 5, 2023
On the web
Project Leap: Quantum-Proofing the Financial System
BIS
"Quantum computers, should they reach sufficient size and power, may be able to break the cryptographic encryption schemes used to ensure secure financial transactions and data."
May 26, 2023
On the web
Central Bank Digital Currencies: Ongoing Policy Perspectives
BIS
"A group of central banks, together with the Bank for International Settlements, are working together to explore central bank digital currencies (CBDCs) for the public ("general purpose" or "retail" CBDC)."
May 11, 2023
On the web
Project Polaris: Offline Payments with CBDC (BIS)
BIS
"A survey conducted by the BIS Innovation Hub Nordic Centre shows that 49% of central banks consider offline payments with retail CBDC to be vital, while another 49% deemed it to be advantageous. Providing offline payments with CBDC is an important requirement for many central banks for reasons such as resilience, inclusion, privacy and cash resemblance. However, its implementation is complex and involves a number of technology, security and operational considerations that need to be planned and designed for at the earliest possible stages."
January 19, 2023
On the web
Exploring Multilateral Platforms for Cross-Border Payments
BIS
Multilateral platforms – cross-border payment systems that are multi-jurisdictional by design – could enhance cross-border payments by reducing the need for intermediaries and allowing payment service providers in different jurisdictions to transact directly with each other. This joint report released by the CPMI, the BIS Innovation Hub, the IMF and the World Bank, identifies challenges to address and approaches to establishing a multilateral platform.
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