Central Banks Launch Initiative To Compete In Fintech

Law360, London (July 1, 2019, 10:18 PM BST) -- The Bank for International Settlements, a global coalition of central banks, has unveiled an initiative designed to increase collaboration on financial technology initiatives amid the growing interest in digital currencies and other technological advances around the world.

Approved by the BIS board at its annual general meeting, the organization said Sunday that the BIS Innovation Hub serves to bring central banks together on various fintech issues and build off of existing ties between the group's 60 global members. The main goal of the innovation hub is to acknowledge and address trends in the fintech space by providing central banks with opportunities...

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