The Bank for International Settlements (BIS), a finance organization comprised of several central banks, has stated that while the objective of decentralized finance is to move control of financial tools away from current financial institutions, it just provides an ‘illusion’ of doing so. The organization argues that there is some kind of centralization around governance…
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A new report from the Bank for International Settlements (BIS), sometimes called the central bank of central banks, has come to a somewhat unexpected conclusion that decentralized finance (DeFi) could play “an important role” in the traditional financial system – but warned about potential financial instability…. Read More: BIS Sees ‘Important Role’ for DeFi,…
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The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With…
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The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies. The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to trial international settlements using central bank digital currencies (CBDCs). The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct…
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