During today’s BIS Innovation Summit, BIS General Manager Agustín Carstens elaborated on the concepts of...
Tokenized deposits
Increasingly tokenized deposits or deposit tokens are viewed as an alternative to stablecoins or a retail CBDC, preserving the two tier banking system. Payments with tokenized deposits can be functionally more complex compared to stablecoins and CBDC. When someone pays using a bank token, there is additionally a movement in conventional money.
Some countries, such as Korea and Brazil, are additionally exploring wholesale CBDCs as an interbank settlement asset. Banks are exploring various use cases, ranging from wholesale or interbank use to corporate applications and consumer payments.
Hong Kong creates ‘community’ for wholesale CBDC Project Ensemble
In March the Hong Kong Monetary Authority (HKMA) unveiled Project Ensemble, which includes a new wholesale central bank...
Vodafone links its blockchain SIM to tokenized deposits
Vodafone launched its Digital Asset Broker (DAB) blockchain network in 2022 with the aim of linking IoT devices to make financial...