BIS Announces CBDC, Tokenization Projects For 2024
The Bank for International Settlements (BIS) Innovation Hub plans to launch a blockchain-based tokenization project in 2024, following its second phase of central bank digital currency (CBDC) privacy testing.
The BIS announced its work program for the year, which includes six new projects focusing on cybersecurity, financial crime, CBDCs, and green finance.
The Promissa project aims to build a proof-of-concept platform for digital tokenized promissory notes, with the PoC expected by early 2025.
The BIS and the Hong Kong Monetary Authority will jointly conduct the Aurum project to investigate retail payment privacy using CBDCs.
The BIS will remain a leading global advocate for CBDCs and a critic of stablecoins in 2023.
(With inputs from Shikha Singh)
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