The BIS, or Bank for International Settlements, has developed an innovation hub for four central banks in Scandinavia, which focuses on cybersecurity, digital currencies, and green finance.
BIS said this week that it has teamed up with Central Bank of Iceland, Norges Bank, Danmarks Nationalbank, and Sveriges Riksbank to develop the hub, which is going to prioritise these themes.
The BIS has also created hubs for banks in London and Toronto, as well as in Frankfurt and Paris. This will be the fifth hub that the BIS has opened in the past two years. There are a number of areas that the hubs focus on, including open finance, and financial market infrastructures.
The BIS did research recently around using CBDCs based on how 50 central banks operate. Approximately two-thirds of them are experimenting with CBDC currently.