The latest report is part of the central bank’s broader study under the umbrella of Project Guardian, looking into the use cases of decentralized finance (DeFi) in wholesale funding markets.
The Monetary Authority of Singapore, along with notable financial firms and the BIS, conclude their exploration of blockchain interoperability in three use cases: OTC forex transactions, trade finance, and OTC-structured notes.
Dubbed Project Dynamo, Bank for International Settlements sought to use digital trade tokens minted on public blockchains to broaden access to global funding for MSMEs.
The research paper focused solely on retail central bank digital currencies, which explored potential legal issues and the need to engage with stakeholders for optimum results.
The Bank for International Settlements "Project Polaris" outlined the benefits of offline CBDCs for countries gearing to launch digital iterations of their local currencies.
Both the BIS and BoE have been exploring an innovative real-time gross settlement system using DLT to power the synchronization network dubbed Project Meridian.
Building on Project Icebreaker, the BIS introduced a new scheme that would partner with top banks to help support the search for information on DeFi's impact on financial stability.
While PvP adoption offers several benefits, including reducing settlement risks on foreign exchange transactions, there are several challenges militating against their effective application, according to BIS.
The Bank for International Settlements’ "Project Icebreaker" project delved into the benefits and risks of launching retail central bank digital currencies with cross-border functionalities.
In line with India's pledge to develop a framework to regulate the digital asset industry, the FSB, IMF, and BIS will submit recommendations to G20, focusing on countering risks tied to the assets.
A report from the BIS explored why digital currency users participate in the industry, patterns in their market behavior, and how current events in the industry lead to certain outcomes for traders.
Under Project Pyxtrial, the Bank for International Settlements is developing a tool for central banks to monitor stablecoins in a year where the key focus is on central bank digital currencies.
