BIS to launch stablecoin monitoring project and up focus on CBDC experiments
The Bank for International Settlements (BIS) will heighten focus on experimenting with central bank digital currencies (CBDCs) this year via its research and development arm and will also launch a new project to monitor stablecoins.
On Feb. 7, the Switzerland-based so-called “bank for central banks” announced its Innovation Hub will “increase its focus” on CBDCs in 2023 to improve payment systems.
The bank added that its work schedule for the year ahead also includes “Project Pyxtrial,” which it described as a new experiment being launched by the London branch of the BIS Innovation Hub to enable the “systemic monitoring of stablecoins.”
