Central banks of Canada, the UK, Japan, the European Union, Sweden and Switzerland together with the Bank for International Settlements (BIS) have made a special group for a joint study of the state cryptocurrency (CBDC). These institutions will share their experiences with other members of the group and explore options for using CBDC in different jurisdictions.
“The group will evaluate CBDC use cases, economic, functional and technical design, including cross-border compatibility, and exchange knowledge about new technologies. It will coordinate its activities closely with relevant institutions and fora, in particular the Financial Stability Board and the Payments and Market Infrastructure Committee (CPMI), ” the announcement says.
The study group will be led by BIS Innovation Hub Head Benoit Cur and vice-governor of the Bank of England and chairman of the Payments and Market Infrastructure Commission John Canliff. The group will include senior representatives from participating central banks and BIS.