As the world gets increasingly globalized, the ways that businesses transact become more important. With the Bank for International Settlements’ Committee on Payments and Market Infrastructures emphasizing in its June report that a key priority area for cross-border payments is payment system interoperability and extension,...
A global financial watchdog is warning against the risks of digitalization in the financial world. The Bank for International Settlements’ Basel Committee on Banking Supervision issued a report Thursday (May 16) that examines implications of the digitalization of finance, weighing both the risks and rewards presented by new technologies. “While...
Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem with seven central banks — including the Federal Reserve Bank of New York — to test tokenization in a bid to improve cross-border payments....
Buy now, pay later (BNPL) plans have been marked by higher delinquency rates even as growth and enthusiasm for those payments offerings have soared, the Bank for International Settlements (BIS) said on Monday (Dec. 4). “The rapid ascent of BNPL could be of concern to...
April 03, 2024
Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem with seven central banks — including the Federal Reserve Bank of New York — to test tokenization in a bid to improve cross-border payments. In addition, Project Agorá, as the initiative is known, will […]
November 09, 2023
The hallmark of stablecoins has been instability. In a paper published this week by the Bank of International Settlements (BIS), the analysis shows that with a decade of trading history, none...
July 18, 2023
As you read this, the very nature of money is being interrogated and experimentally reshaped. “There’s a huge global trend going on right now into exploring the intricacies, complexities, difficulties...
July 11, 2022
If you took the collateral out of decentralized lending, you’d have something not only potentially useful, but scalable into the real economy. So said the Bank for International Settlement (BIS)...
June 26, 2024
The financial sector is among the “most exposed” to both the benefits and the risks of artificial intelligence (AI), the Bank for International Settlements (BIS) said Tuesday (June 24). The benefits of AI for the sector include improvements for lending and payments, while the risks include more sophisticated cyberattacks, the BIS said in a Monday press release. […]
May 16, 2024
A global financial watchdog is warning against the risks of digitalization in the financial world. The Bank for International Settlements’ Basel Committee on Banking Supervision issued a report Thursday (May 16) that examines implications of...
December 03, 2023
British lawmakers say they’re still not sure their country needs a digital currency. “It must be clearly evidenced that a retail digital pound will provide benefits to the U.K. economy...
November 30, 2023
The Bank of Korea plans to launch a pilot program for its retail central bank digital currency (CBDC) in the fourth quarter of 2024. The program will involve 100,000 selected South Korean...
