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BIS Launches Innovation Hub With Nordic Central Banks Focusing on CBDCs
The launch of the Nordic hub marks the fifth BIS Innovation Hub Centre to be opened in the past two years.
The Bank for International Settlements (BIS) has launched a regional innovation hub in Scandinavia with four Nordic central banks focusing on central bank digital currencies, cybersecurity and "green" finance.
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- BIS said Wednesday it has partnered with Danmarks Nationalbank, Central Bank of Iceland, Norges Bank and Sveriges Riksbank to launch the hub which will aim to advance its work on priority themes.
- The BIS has also launched hubs with the Bank of Canada in Toronto and the Bank of England in London as well as the European Central Bank in Frankfurt and Paris.
- The launch of the Nordic hub marks the fifth BIS Innovation Hub Centre to be opened in the past two years.
- The hubs focus on six areas including suptech and regtech, financial market infrastructures, CBDCs, open finance, cybersecurity, and green finance.
- Recently the BIS published a survey examining the possible cross-border use of CBDCs based on 50 central banks. About two-thirds of them are already experimenting with CBDC and conducting pilots, the BIS said.
Read more: BIS Survey Finds Central Banks Keen on Tourists, Non-Residents Using Upcoming CBDCs
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
