Singapore The Lead In Top Priority CBDC Research For Bank for International Settlements – BIS’ Innovation Hub

26 Jan 2020 — Singapore takes the lead in top priority #CBDC research for Bank for International Settlements – BIS’ Innovation Hub (BISIH)

Established by the BIS in 2019, with a mission to foster international collaboration on innovative financial technology within the central banking community, the #BISIH has released 4 new projects for its Work Programme FY 2021/22 involving Singapore and Hong Kong.

Singapore being the only innovation hub in SEA, and one of the three existing hubs in the world including Switzerland and Hong Kong, has been assigned to build an international settlement platform as a common settlement infrastructure for regulated banks and payment service providers to settle cross-border payments using multiple wholesale CBDCs.

The second project is to create an open-source proof-of-concept and prototype of a a regulatory reporting platform that enables realtime data analytics using AI and machine learning tools that can be used to validate risk assessments.

Conversely, Hong Kong will work on the benefits and challenges of tiered architectures for the distribution of retail CBDC through two models of stablecoins’ architectural, along with assessment of #tokenized green bonds.

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