The CIO from Payments Canada will head a BIS innovation hub in Singapore
Firms are developing a new foreign exchange settlement model for big banks
Digital currency will launch in the next six to 12 months
The app is available to several banks' customers
Adoption of the technology will likely be gradual
New digital coin breathes some life back into blockchain technology, says Moody’s
The Chamber of Digital Commerce Canada will "promote the acceptance and use of digital assets and blockchain-based technologies"
The system could reduce the overall global cost of fund distribution by as much as US$4.2 billion
Digital currencies could enhance the speed, efficiency and resilience of cross-border payments
Further research is needed to test expanding a blockchain-based system to include multiple asset classes, different types of trades and participants