BIS Touts CBDCs’ Role in Reducing the Cost of Cross-Border Transactions

Central Bank Digital Currencies (CBDCs) are the latest financial buzz. Governments want to build them, and many have started. Currently, more governments have started working on CBDCs. Also, the Bank of International Settlements (BIS) is supporting their activities. Less Time, Fewer Costs Earlier this week, the BIS published a report. In the statement, the bank said that CBDCs can help to reduce the delays in international transactions. The report's title was "Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments."…

Central Banks Should Issue Digital Currencies Says BIS Chief

The Bank of International Settlement (BIS) General Manager, Agustin Carsten, thinks that Central Banks should issue digital currencies. This was revealed in a report published today about digital currencies and the future of the monetary system. Bitcoin Is Not A Suitable Alternative For Money Agustin Carsten's report focused on different aspects of the international monetary system and talked extensively about Bitcoin. According to Agustin, the lure of digital currencies has caused a major divide in the right architecture. Some want…

CBDC: Swiss National Bank (SNB) to begin Proof-of-Concept Testing

The Swiss National Bank (SNB) is set to launch a proof-of-concept test for a digital currency in 2020. As reported by a Chinese news outlet, the Swiss apex bank will run the test in collaboration with the Bank for International Settlements (BIS). BIS Chief Benoit Coeure revealed key details on this latest development at the Bund Summit held in Shanghai on Sunday. According to Coeure, the proof-of-concept will be undertaken to analyze how the digital currency would work, and the…