BIS Tests International Settlements With Central Bank Digital Currencies

Global Fintech is rapidly congealing as Central Bank Digital Currencies (CBDC) are integrating into the Bank for International Settlements (BIS) in order to “lay the foundation for global payments connectivity.” Fintech is said to the coming financial structure for Sustainable Development, aka Technocracy. ⁃ Technocracy News & Trends Editor Patrick Wood

By: Gaurav Raghuvanshi via S&P Global

The Bank for International Settlements and four central banks will test the use of digital currencies for cross-border transactions, as global regulators seek to improve the speed of movement of money in a cheaper, more transparent manner.

The BIS Innovation Hub, along with Reserve Bank of Australia, Monetary Authority of Singapore, Bank Negara Malaysia and South African Reserve Bank, aims to develop prototype shared platforms for cross-border transactions using multiple central bank digital currencies, or CBDCs, the group of global regulators said in a Sept. 2 press release.

Read More – BIS Tests International Settlements With Central Bank Digital Currencies