The Bank of International Settlements (BIS) has launched its innovation hub in Canada in partnership with the Bank of Canada. The BIS Toronto Innovation Centre, inaugurated on June 13, will focus on developing new technologies to enhance inclusivity and efficiency in the financial sector. Specifically, the hub will concentrate on open finance, innovation for regulatory purposes, and next-generation financial market infrastructures. Additionally, the hub will work on central bank digital currencies (CBDCs), green finance, and cybersecurity. The collaboration aims to foster innovation in the region, with BIS General Manager Agustín Carstens emphasizing the importance of building a modern and inclusive financial system. The BIS has also outlined its 2024 work program, including initiatives such as CBDC privacy testing and a blockchain-based tokenization project. Furthermore, the BIS has joined forces with several central banks to explore asset tokenization in the financial system through 'Project Agora'. Read more AI-generated news on: https://app.chaingpt.org/news