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Surge in digital coins', DeFi's market share heightens pressure for CBDC development

Surge in digital coins', DeFi's market share heightens pressure for CBDC development
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BIS joins France and Switzerland's central banks on cross-border CBDC project


News
The Bank of France and the Swiss National Bank are teaming up with the Bank for International Settlements’ Innovation Hub to test a wholesale central bank digital currency (CBDC) system dubbed “Project Jura.”
According to a release by the Bank of France on Thursday, the Project Jura pilot study will also draw participation from a private consortium led by global service company Accenture. Other establishments in the private consortium include Credit Suisse, UBS, SIX Digital Exchange and R3.
The experiment will reportedly use two wholesale CBDCs one pegged to the euro and the other pegged to the Swiss franc. According to the announcement, the process will involve the exchange of financial instruments against each wholesale CBDC via a delivery versus payment settlement apparatus. ....

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BIS Innovation Hub Sets Out Annual Work Programme And Launches Innovation Network


BIS Innovation Hub Sets Out Annual Work Programme And Launches Innovation Network
Date
25/01/2021
BISIH to focus on six themes: suptech and regtech; next-generation financial market infrastructures; central bank digital currencies; open finance; green finance; and cyber security.
Projects to be spread across existing Hub Centres and new locations coming online in 2021.
Priorities to be supported by the BIS Innovation Network, a network of experts drawn from the BIS s 63 member central banks.
The Bank for International Settlements Innovation Hub (BISIH) today set out its work programme, demonstrating its focus on six key areas as it fosters international collaboration among central banks on innovative financial technology.  ....

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