In recent days the Bank for International Settlements (BIS) has published a bumper crop of reports offering insights on aspects of central bank digital currencies (CBDCs), in collaboration with a number of central banks.
The Bank for International Settlements (BIS) Innovation Hub, the Reserve Bank of Australia, the Bank Negara Malaysia, the Monetary Authority of Singapore, and the South African Reserve Bank have announced that they will be collaborating to test the use of central bank digital currencies (CBDCs) for international settlements.
Following exploratory experimentation, analysis and consultation, the Governing Council of the European Central Bank (ECB) has announced its decision to launch a digital euro project, to begin with a two-year investigation phase.
Will future central bank digital currencies (CBDCs) transcend national borders – potentially easing current frictions in cross-border payments – or are they likely to remain strictly local?
The Bank of Japan has begun proof-of-concept trials on its central bank digital currency (CBDC), the digital yen. Phase 1 aims to test the technical feasibility of the CBDC, and will run for one year to March 2022.
The People’s Bank of China (PBOC) has proposed a set of global rules for central bank digital currencies (CBDCs), covering how they can be used around the world as well as monitoring and information sharing.