The coronavirus pandemic has forced governments worldwide to focus on bringing blockchain tech to their financial services. Famed currency speculator George Soros, who in 1992 broke the Bank of England to emerge a billionaire overnight by forcing the pound out of the European Exchange Rate Mechanism, believes: “We will not go back to where we…
Read more
Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets. In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements,…
Read more
Crypto has turned from an inevitable future to our happening present, and stablecoins may become the industry’s cornerstone. Major financial institutions love certainty, and that will help the crypto community immensely. Let’s get down to basics: A stablecoin is a type of digital asset designed to solve the problem of the hypervolatility of cryptocurrencies. This…
Read more
BIS Innovation Hub head asserted the decline of cash use amid the pandemic has renewed the pertinence of bank-issued digital currencies. Benoît Cœuré, the head of the Bank for International Settlements Innovation Hub, recently asserted that central bank digital currencies, or CBDCs, have been brought “into sharper focus” amid the coronavirus pandemic. Speaking during a…
Read more
Researchers at the Bank for International Settlements think that crypto prices respond well to clear regulation, though they drop when governments issue bans. Researchers from the Bank for International Settlements are finding that cryptocurrency markets actually react positively to news of clear regulations. Findings? Crypto is not such a wild west after all Per a…
Read more
Amid growing concerns regarding the transmission of COVID-19, the Bank of International Settlements is pushing for digital currencies. The Bank of International Settlements (BIS) has issued a report arguing in favor of central bank digital currencies (CBDCs) and digital payments amid the COVID-19 pandemic. The bulletin published by the BIS, a 600-member international financial institution representing…
Read more
None of the 17 ongoing global CBDC projects goes beyond the central bank’s jurisdiction, according to BIS research. Cross-border payments do not appear to be a priority as countries all over the world to engage with their own digital currency projects, a new report says. While global governments are competing to become the first country…
Read more
While banks in emerging markets are moving more rapidly toward issuing CBDCs, other countries appear to be taking a more cautious stance. The recent survey results published by the Bank of International Settlements produced bullish and bearish sentiments with regard to Central Bank Digital Currency adoption. While banks in Emerging Market Economies (EME) are moving…
Read more
The Bank of International Settlements’s new survey revealed that only 10% of central banks are likely to issue a CBDC for the general public in the short term. A new survey from the Bank of International Settlements (BIS) revealed that only 10% of central banks are likely to issue a central bank digital currency (CBDC)…
Read more
Six major central banks and the Bank for International Settlements jointly created a digital currency research group. The central banks of Canada, the United Kingdom, Japan, European Union, Sweden and Switzerland created a group with the Bank for International Settlements (BIS) to jointly research central bank digital currencies (CBDC). According to a press release published…
Read more
