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Under Project Dunbar, the BIS Innovation Hub has developed two prototypes for a shared platform that will potentially enable international settlements using digital currencies issued by multiple central banks

BIS, SNB and SIX have successfully completed the second phase of Project Helvetia — a tested integration of wholesale central bank digital currency settlement with commercial banks

Central bank digital currencies, decentralised finance and green finance are central to the Bank of International Settlements’ innovation programme, with London and Nordic hubs launching their first projects

Project Helvetia aims to prepare for a financial future where financial assets are tokenised and financial infrastructures run on distributed ledger technology with linkage to existing core banking systems

Project Dunbar will develop prototypes for shared platforms supporting international settlement in central bank digital currencies. Testing will run with central banks in Australia, Malaysia, Singapore and South Africa

The aim is to build a digital infrastructure prototype that helps issuers and governments meet sustainability goals, with projects guided by experts from industry and civil society

BIS Innovation Hub launches in its fourth location to support the challenges of a digital world while safeguarding financial stability

Singapore might be one of the most prosperous countries in the world and an international financial centre, but in securities finance, market activity remains muted. Sophie Downes reports