Stablecoins show promise in payments, but regulatory fragmentation hinders adoption: BIS
In a new report, the BIS surveyed 11 jurisdictions and their stablecoin approaches, concluding that the lack of harmony presented the biggest challenge.
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BIS: African central banks pushing for CBDCs, but their motivation differs from other regions
Bank for International Settlements found that payment system efficiency is the key motivator, but unlike other regions, African central banks see CBDCs as a great tool for monetary policy.
CBDCs are new favorite assets for central banks, BIS report says
The 21-page report discussed the key areas for central bank digital currencies, such as the motivations for issuance and potential concerns about the key designs that CBDCs should integrate.
BIS partners with Australia, Singapore on multi-CBDC platform pilot
The Bank for International Settlements also partnered with South African and Malaysian central banks to develop the prototypes for an international settlement platform using multiple digital currencies.
Central bank digital currencies could progress thanks to COVID-19
The Bank of International Settlements anticipates a rise in interest for digital currencies because of the coronavirus.