About Bank for International Settlements
Bank for International Settlements operates as a financial institution. It promotes global monetary and financial stability through international cooperation. It was founded in 1930 and is based in Basel, Switzerland.
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Latest Bank for International Settlements News
May 26, 2023
Source: Pixabay The Bank for International Settlements, which serves as a “bank for central banks,” released its latest paper examining retail central bank digital currencies, as its members “are approaching a point” as to whether or not they should move forward in their CBDC work. Central banks representing Canada, Europe, Japan, Sweden, Switzerland, England and the US are working to explore CBDCs for retail use. Retail CBDCs, as opposed to wholesale CBDCs, would be used by the general public. The group of central banks first published a paper in October 2020 laying out the principles and on Thursday released a paper called “Central bank digital currencies: ongoing policy perspectives.” The Bank for International Settlements, or BIS, supports central banks in part by promoting monetary and financial stability, and is owned by 63 central banks representing 95 percent of the world’s gross domestic product. The central banks listed on the report said its jurisdictions are looking into whether there is a need to “ensure ongoing retail access to central bank money at a time of profound, ongoing changes across finance, technology and society.” “The motivation for introducing a retail CBDC may rest primarily on the role of central bank money as a public good,” they said in the report. “At the same time, the introduction of a CBDC could be an innovative opportunity for the monetary system.” Some of their members are getting to a point where they are deciding whether or not to move onto the next stage of their CBDC work, the banks said. Private innovation may be a must The seven central banks listed on the report said they see private innovation as an important factor for the long term in creating CBDCs. “Legislators and authorities will need to remain engaged as work on CBDC progresses. The development of solutions to some of the outstanding legal issues related to CBDC will largely be a matter of national law and will tend to be highly dependent on policy choices and the design of a CBDC.” Enter your email for our Free Daily Newsletter A quick 3min read about today's crypto news! Sign Up
Bank for International Settlements Frequently Asked Questions (FAQ)
When was Bank for International Settlements founded?
Bank for International Settlements was founded in 1930.
Where is Bank for International Settlements's headquarters?
Bank for International Settlements's headquarters is located at Centralbahnplatz 2, Basel.
Who are Bank for International Settlements's competitors?
Competitors of Bank for International Settlements include Vitesse and 4 more.
Compare Bank for International Settlements to Competitors
SCB is a commodity broking group that promotes the adoption of low-carbon alternatives by reducing the frictional cost of low-carbon practices. It provides brokerage services, climate change advisory services, low-carbon future planning, and unbiased data. It provides its services to companies, organizations, and groups. It was founded in 2007 and is based in Nyon, Switzerland.
Single.Earth operates as a greentech company for scientific research and innovation development in nature-based solutions. It builds accessible and scalable tools to mitigate climate change and biodiversity loss using natural sciences and blockchain technology. The company was founded in 2019 and is based in Tallinn, Estonia.
Basel Agency for Sustainable Energy (BASE) is a not-for-profit foundation. It combines expertise in technology, markets, economics, finance, and business development to deliver effective solutions for every project. It builds bridges between sectors and actors at the nexus between climate solutions, finance, and international development. It develops actionable financial strategies and market-driven solutions to unlock investment in climate change solutions for public and private organizations. It was founded in 2001 and is based in Basel, Switzerland.
Vitesse develops a settlement and liquidity management system. The system holds funds and delivers international payments globally using domestic, in-country processing. It offers cross-border services via a globally distributed settlement network. The company was founded in 2014 and is based in London, United Kingdom.
Succinct is a financial information company that creates a weekly briefing with the key developments in global markets. The company offers essential information on economics, central bank action, corporate deals, and the behavior of key asset classes: equities, rates, FX, commodities, and EM. The company was founded in 2014 and is based in London, United KIngdom.
astrantiaPay is a Swiss financial firm with a distinctive voice that draws on settlement networks to provide mission-critical payment services to sophisticated Swiss, European, and international SMEs. specialize in corporate client onboarding due diligence and delivers, and runs document business operating accounts for transaction banking in Switzerland on behalf of companies from a range of sectors and industries. Its mission is to enable the free and safe flow of money, goods, and data across borders and facilitate global trade and services in old and new economies. It was founded in 2020 and is based in Zurich, Switzerland.
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