BIS Innovation Hub partners with Fed to support analysis of digital assets

BIS Innovation Hub partners with Fed to support analysis of digital assets

The Federal Reserve Bank of New York has announced it will be partnering with the Bank for International Settlements Innovation Hub as part of the launch of its New York Innovation Center, an initiative aimed at exploring technology used to develop the global financial system.

In a Monday speech for the opening of the New York Innovation Center, Federal Reserve chair Jerome Powell said the partnership would support the agency’s analysis of digital currencies, including the rollout of a central bank digital currency, or CBDC. The center plans to support analyses aimed at improving cross-border payment systems.

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