The Bank for International Settlements (BIS) wants to expand the world’s largest instant payment system (IPS). BIS announced Monday (July 1), that it had completed the blueprint for the third phase of its Project Nexus, aimed at connecting the instant payment systems of several central...
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...
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...
July 02, 2024
Artificial intelligence is poised to transform the financial sector and broader economy, creating opportunities and risks that central banks must navigate carefully, according to a top official at the Bank for International Settlements. In a Sunday (June 30) speech at the BIS annual meeting, Hyun Song Shin, economic adviser and head of research, explained how […]
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 —...
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 01, 2024
The Bank for International Settlements (BIS) wants to expand the world’s largest instant payment system (IPS). BIS announced Monday (July 1), that it had completed the blueprint for the third phase of its Project Nexus, aimed at connecting the instant payment systems of several central banks. In phase four of that project, those banks — […]
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...
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...
