(Bloomberg) -- Germany is looking to host one of the Bank for International Settlements’ innovation hubs, according to documents on the Bundestag’s website.
“The Bundesbank’s dossier for a further innovation hub is being prepared,” the German government said a written response to questions by lawmakers including Frank Schaeffler, Christian Duerr and Florian Toncar.
The Basel-based BIS -- the central bank for central banks -- announced last year that it was establishing centers to develop insights into the way financial technology impacts monetary institutions. With cash use diminishing in countries like Sweden, there have been calls for authorities to issue digital currencies for the public.
Innovation sites have been established in Switzerland, Hong Kong and Singapore, in collaboration with their respective monetary authorities.
©2020 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR