In an announcement on Sunday, BIS says operations in the Singapore Hub Centre will start as soon as institutional arrangements for the establishment have been finalised.
SINGAPORE (July 1): The Bank for International Settlements (BIS), the Basel, Switzerland-based institution, which watches over global financial stability, has selected Singapore as one of the locations for an innovation hub centre, alongside Basel and Hong Kong.
In collaboration with other central banks, the Singapore Hub Centre aims to develop the technology architecture for an efficient and secure digital global financial system and facilitate experiments in the application of technology to enhance financial regulation.
