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BIS Opens Four New Innovation Hubs


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According to a press release, the Bank for International Settlements (BIS) Innovation Hub plans to add four new locations in Europe and North America.

The hub, which aims to analyze trends in financial technology related to central banks, plans to open respective central banks in Toronto, London, Frankfurt, Paris and Stockholm, and to establish a strategic partnership with New York. I am. Federal Reserve.

According to PYMNTS, the Innovation Hub was launched in 2019 as a way for central banks to collaborate on different innovative solutions to their problems. Another goal was to improve the world and create new public goods that could be the starting point for future innovation.

The first place was Basel and Hong Kong, the third was Singapore.

The expansion will allow BIS to initiate communications between central banks in newer locations than before.

BIS General Manager Agustn Carstens called the move an investment in the future of central banks and the financial system.

According to the press release, these new centers will significantly expand our reach and create a global force for FinTech innovation.

Beis Cur, head of BIS, said he needed to pitch the importance of new places and reach breakthrough limits with new innovations for finance.

With this expansion, the Innovation Hub will be the right place to tackle a wide range of key issues for the central banking community, including digital currencies and digital payments, cybersecurity, distributed ledger technology, and artificial intelligence. This expansion is a testament to the central bank community’s commitment to innovation and cooperation.

BIS surveyed 66 banks around the world and shifted to creating the Central Bank’s Digital Currency (CBDC). About 80% of the people surveyed are already working on the survey. There’s nothing wrong with that, but in the future, there may be more public-private partnerships in the creation of digital currencies.

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Bank, BIS, CBDC, Central Bank, Digital, Frankfurt, Hong Kong, Innovation Hub, London, New York, News, Paris, Stockholm, Toronto, What’s Hot

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