BIS calls for global cooperation on central bank digital currencies

https://www.cnbc.com/2021/07/09/bis-central-bank-digital-currency-cbdc-china.html

LONDON — Top financial institutions are calling for global cooperation on central bank digital currencies.

The Bank for International Settlements, the global body for central banks, issued a report Friday saying that central banks should work to achieve “interoperability” between their digital currency projects.

The BIS is an umbrella group for central banks, representing institutions from the U.S. Federal Reserve to the People’s Bank of China. Its report with the IMF and World Bank said that central bank digital currencies, or CBDCs, could enable cheaper and faster cross-border payments.

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