Central Bank Crypto Assets Near: ‘Bank For Banks’ Back Digital Fiat2

Money has been physical for millennia now. But, ever since digital assets, like Bitcoin, have proved their viability in finance and the legitimacy of their underlying technologies, central banks and financial institutions have begun to eye the blockchain and cryptocurrency industry.

On Sunday, their foray into their own centralized segment of the industry was validated. In a comment given to the Financial Times, the Bank of International Settlements (BIS) backed the idea that central banks should launch their own digital currencies, even going as far to launch an innovation hub for financial technologies (fintech).

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