BIS Innovation Hub

Hub updates and projects

Hub projects and topics will evolve over time, and the BIS has been working to identify areas of work for the Hub that reflect the innovation priorities of the central bank community and which could be scaled up through international cooperation. Topics under consideration for the work agenda include central bank digital currencies, global stablecoins, payment innovations, the impact of big tech on financial intermediation, regtech and suptech, fast-paced electronic markets, and digitalisation of trade finance.

What does the BIS Innovation Hub do?

The mandate of the BIS Innovation Hub is to identify and develop in-depth insights into critical trends in financial technology of relevance to central banks, to explore the development of public goods to enhance the functioning of the global financial system, and to serve as a focal point for a network of central bank experts on innovation. It complements the already well established cooperation within the BIS-hosted committees.

Where is the Hub located?

The Hub will have multidisciplinary teams located in Hong Kong SAR, Singapore and Switzerland.

In the next two years, the BIS will open centres in Toronto, London, Frankfurt/Paris and Stockholm. The BIS will also form a strategic partnership with the Federal Reserve System in New York.

Why was the Hub set up?

  • Technology-driven innovation in financial services is accelerating, and will have major consequences for global financial systems and central banks.
  • The IT revolution has repercussions in multiple locations simultaneously.
  • Central banks can achieve economies of scale by working together.