BIS Says DeFi Could Bring 'New Generation' To Finance Market
The Bank of International Settlements (BIS) has concluded its CBDC pilot and said that decentralized finance (DeFi) elements could bring about a “new generation” of financial market infrastructure. The CBDC pilot called Project Mariana concluded Thursday, according to a new report. Indeed, the project had seen the BIS test cross-border trading of CBDCs across varying financial institutions. Moreover, the project utilized innovative technology that had been obtained from the DeFi sector. Subsequently, it has led to the organization’s perspective on its future importance. Source: Wall Street Journal Also Read: BIS Calls for Robust Legal Framework to Enable CBDC Adoption BIS CBDC Pilot Ends As They Note DeFi Potential The development of a Central Bank Digital Currency ( CBDC ) has long been held within the digital asset industry. These projects are seeking to use both digital assets with fiat currency. Specifically, they look to use both through the utilizat...