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BIS Starts FinTech Hub as Central Banks Look Into Crypto

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Photographer: Akos Stiller/Bloomberg
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The Bank for International Settlements is setting up shop to help officials embrace financial technology, who may need to speed up developing their own digital currency.

The BIS, which promotes cooperation among the world’s monetary officials, announced on Sunday it was starting an innovation hub for financial technology. And in an interview with the Financial Times, BIS General Manager Agustin Carstens said that “it might be that it is sooner than we think that there is a market and we have to create our own digital currencies.”