Speech by Mr Pablo Hernández de Cos, Governor of the Bank of Spain, at the 20th Anniversary Conference of the BIS Representative Office for the Americas, Mexico City.

The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) today announced Project Cedar Phase II x Ubin+, a joint experiment to investigate how wholesale central bank digital currencies (wCBDCs) could improve the efficiency of cross-border wholesale payments involving multiple currencies.

Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type of money substitution by digital money. The paper straddles several cases where substitution of CiC (currency in circulation), and bank deposits may take place via digital money such as CBDC or other e-money, and how it would impact the central bank balance sheet. Remuneration of CBDC, if aligned to a new objective, could potentially amplify the effect on the interest rate channel of monetary policy.

The Monetary Authority of Singapore (MAS) today launched Ubin+, an expanded collaboration with international partners on cross-border foreign exchange (FX) settlement using wholesale central bank digital currency (CBDC).

The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralised Finance (DeFi) protocols as part of its 2022 work programme.

The world's major central banks and monetary authorities have kicked off studies into CBDC (Central Bank Digital Currencies) in recent years. Monetary authority of Singapore and Swedish central bank have undertaken or contemplated related pilot projects, and the People's Bank of China (PBC) is also actively exploring the possibility of introducing its CBDC in this second largest economy in the world. This article puts forward some thoughts on issuing CBDC in China.

"I would like to share with you some of my thought on the Central Bank Digital Currency, or CBDC."

The Reserve Bank of India has today released a Concept Note on Central Bank Digital Currency (CBDC) for India.

Our ground-breaking new innovation lays a path for digital currencies and tokenised assets to integrate seamlessly with the world’s existing financial ecosystem.

The multiple central bank digital currency bridge (m-CBDC) has successfully completed its first real-trade pilot test based on four national or regional central bank digital currencies.