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Central bank officials are not confident in Bitcoin or other digital currencies' ability to serve as legitimate financial instruments.

The BIS Innovation Hub aims to foster innovation and greater collaboration amongst the central banking community globally, enhance the understanding of financial technology, and aid development of innovative solutions to benefit and enhance the financial system. The Innovation Hub's work programme is structured around six core themes.

To be first is to set the tone for the industry and control the space — a tactic otherwise known as the first-mover advantage.

ECB’s payments head speaks about the functionality, tiering and technology of the eurozone’s planned CBDC

Amid the COVID-19 pandemic and the SEC lawsuit, Ripple continues to thrive through partnerships with financial institutions leveraging their payment services.

Idea of complete anonymity in digital systems is a “chimera”, BIS chief says

An exec at the Bank for International Settlements wants central banks to helm the evolution of digital money.

Swiss National Bank has reportedly registered new trademarks like E-Franc, Digital Swiss Franc with Federal Patent Office.

Emerging market central banks in particular are focusing on retail CBDCs, report says

Despite the Securities and Exchange Commission’s lawsuit against its firm, Ripple has continued to expand its services as a fintech firm.

Most central banks are exploring central bank digital currencies (CBDCs), and their work continues apace amid the Covid-19 pandemic. This BIS paper updates earlier surveys that asked central banks how their plans in this area are developing. The latest responses show that as a whole, central banks are progressing from conceptual research to practical experimentation. In addition, the paper highlights that while most have no plans to issue CBDCs in the foreseeable future, central banks collectively representing a fifth of the world's population are likely to launch retail CBDCs in the next three years. The Covid19 pandemic has added new motivations to this journey.

Many nations are moving to advanced stages of CBDC engagement, according to the Bank for International Settlements.