|All Time High:|
|Market Cap: |
|The price of #BIS today is $0.00961 USD.|
The lowest BIS price for this period was $0, the highest was $0.00961, and the current live price for one BIS coin is $0.00961494.
The all-time high BIS coin price was $9.30.
Use our custom price calculator to see the hypothetical price of BIS with market cap of BTC or other crypto coins.
|The code for Bismuth crypto currency is #BIS. |
Bismuth is 6.2 years old.
|The current market capitalization for Bismuth is $132,099.|
Bismuth is ranking downwards to #1534, by market cap (and other factors).
|There is a weak volume of trading today on #BIS.|
Today's 24-hour trading volume across all exchanges for Bismuth is $661.
|The circulating supply of BIS is 13,738,963 coins, which is 12% of the maximum coin supply.|
Note the limited supply of Bismuth coins which adds to rarity of this cryptocurrency and increases perceived market value.
More Bismuth (#BIS) News
|BIS General Manager Agustin Carstens Touts Tokenization as Part of the F...
Agustin Carstens, general manager of the Bank for International Settlements (BIS), has discussed tokenization's significance in modernizing the current siloed financial system. Carstens stated that only through tokenization can the world move to a more interconnected and programmable financial system, where several central bank digital currencies (CBDCs) will be transacted seamlessly.
BIS Head Agustin Carstens Talks Tokenization as Origin of an International Unified Ledger
Agustin Carstens, general manager of the Bank for International Settlements (BIS), referred to the significance of tokenization as a key tech for building an interconnected financial system using central bank digital currency (CBDC). In a keynote speech at the CBDC & Future Monetary System Seminar in Seoul, Carstens explained how tokenization would allow the modernization of the current siloed financial system.
Tokenization is a means of recording money and assets in a digital form on a programmable ledger. In practical terms, this means that users could transfer assets directly through programming instructions, rather than through intermediaries such as account managers who act on behalf of the user.
For Carstens, the tokenization of money and other assets and its integration on top of a 'unified ledger' will help the current financial system to evolve, allowing a two-tiered currency system composed of wholesale tokenized CBDC and tokenized deposits to be implemented in several countrie...
|BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals 'Poorly Designed ...
In a Wednesday speech in Basel, Switzerland, Bank for International Settlements (BIS) chief Agustín Carstens argued that central bank digital currencies (CBDCs) will “sit at the core of the future financial system,” bringing innovation and meeting public expectations.While Challenges Remain, BIS Boss Agustín Carstens Insists CBDCs Will ‘Secure the Future Monetary System’
In February, Agustín Carstens expressed skepticism about stablecoins, a sentiment he has echoed repeatedly regarding public crypto assets. Carstens holds a conviction that central bank digital currencies (CBDCs) will emerge as major innovators in the cryptocurrency domain. During a discussion focused on 'securing the future monetary system,' Carstens took the opportunity to share his insights on CBDCs.
Carstens stated in the speech that CBDCs, whether for wholesale or retail use, will need to be secure and seen as such by the public to maintain trust. He acknowledged that cybersecurity and new technology like quantum computing pose challenges. Flexibility in design will be key so security measures can rapidly adapt. Carstens stated:
Maintaining an appropriate level of privacy, for example, will be crucial to ensuring public acceptance of retail CBDCs.
The BIS general manager emphasized that CBDCs must balance security with privacy. He said the BIS Innovation Hub has completed projects on integrating quantum-resistant cryptography into CBDC systems and ensuring offl...
|Bank of Korea and BIS Prepare Wholesale CBDC Pilot
The Bank of Korea and the Bank for International Settlements (BIS) have announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank transactions and issue CBDC-backed digital currencies that can be fractionally backed depending on the case.
Bank of Korea to Test Wholesale CBDC
The Bank of Korea has announced an upcoming wholesale central bank digital currency (CBDC) pilot that will test the applications and efficiency of such a system in different use cases. A wholesale currency is designed to be harnessed by commercial banks and other financial institutions.
The proposed system, which has been designed with the collaboration and advice of the Bank for International Settlements (BIS), would allow the commercial banks signed up for the pilot to issue different kinds of digital currencies (tokenized deposits and e-money) with the support of a wholesale CBDC as collateral. In addition, this CBDC would also serve to make interbank settlements.
The pilot could also include applications outside the banking system to instantly execute settlements of tokenized assets (like carbon credits), with delivery and payment happening simultaneously.
Evolution of Korean Pilot and Objectives
The pilot is the continuation of the previous experimentations of the Bank of Korea with a retail CBDC, which happened between July and December 2022 and included the participation of 14 f...
|Crypto Era Looms: BIS Innovations Chief Calls On Central Banks To Prepar...
Central banks worldwide must be proactive in adapting to the fast-evolving crypto landscape, urged Cecilia Skingsley, the head of the Innovation Hub at the Bank for International Settlements (BIS).
Speaking at the New York Fed Conference on Fintech: Artificial Intelligence and Digital Assets in Manhattan, Skingsley emphasized the need for central banks to embrace technological advancements, including cryptocurrencies and tokenization.
Skingsley highlighted the distinctive approach of the BIS Innovation Hub, which focuses on researching and investigating the impact of new technologies on central bank operations.
Unlike other institutions, the Innovation Hub actively engages with emerging technologies, including cryptocurrencies, and shares its findings with the global community. Skingsley expressed pride in the Innovation Hub's project portfolio, which sets it apart from similar initiatives.
In their most recent report titled 'BIS Blueprint for the Future Monetary System,' BIS researchers underscored the significant potential of tokenization in enhancing efficiency and transparency within financial markets. However, the report also questioned the current value proposition of cryptocurrencies themselves.
Tokenization's Promise And Crypto's Limitations
The report acknowledged that cryptocurrencies and decentralized finance (DeFi) have provided a glimpse into the potential of tokenization. Still, it criticized cryptocurrencies as a flawed system that cannot assume the rol...
|BIS and Central Banks Make Waves with Successful CBDC Test in Project Ma...
The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland just recently announced the successful completion of a new CBDC initiative called Project Mariana.
This project tested cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) between financial institutions.
BIS and Central Banks Collaborate on CBDC Test
As per reports, the novel project leverages the concepts of Decentralized Finance (DeFi) technology on a public blockchain, possibly bringing a new dawn in the digital currency world.
This new collaboration between BIS Innovation Hub centers in Switzerland, Singapore, and the Eurosystem, together with Banque de France, Monetary Authority of Singapore, and Swiss National Bank, has successfully validated the trading and settlement of hypothetical euro, Singapore dollar, and Swiss franc wCBDCs.
During the process, discussions were held regarding crucial aspects, such as establishing a standardized technical token and creating bridges to facilitate seamless wCBDC transfers. Furthermore, the consortium of central banks delved into the Automated Market Maker (AMM) concept, enabling automatic pricing and execution of spot FX transactions.
The inclusion of DeFi technology, like automated market makers, could pave the way for a new generation of financial market infrastructures. Project Mariana's architecture balances central banks' domestic need for oversight and the interest of financial instituti...
|BIS Report Cites 'Inherent Limitations' of Cryptocurrencies; Questions T...
The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network congestion and high fees. BIS Report: ‘Crypto Has So Far Failed to Harness Innovation to the Benefit of Society’
In its latest report, the Bank of International Settlements (BIS) claims that cryptocurrencies in their present form are not suited to work with the global economy. BIS researchers stress that while the industry “operates under the banner of decentralization,” in practice “centralized intermediaries have played a key role in channeling funds into the crypto universe and intermediating within it.”
The BIS report details that the splintered landscape of the crypto sector sharply counters the unifying, ripple-like impact observed in conventional networks. The crypto industry, leaning heavily on decentralized validation methods, fosters a fragmentation that nullifies the function of money as a synchronizing tool, thus rendering crypto an ill-fit for a monetary system, BIS researchers argue. The BIS report adds:
Crypto proponents argue that decentralisation guarantees the safety of the system. However, there is often a de facto concentration of decision-making power. While centralisation is not a structural flaw per se, it introduces new risks and invalidates arguments m...
|BIS Survey: 93% of the World's Central Banks Are Engaged in CBDC Work
The Bank for International Settlements (BIS), an organization that seeks to support the international cooperation of the world's central banks, has released the results of its 2022 survey on central bank digital currencies (CBDC) and crypto. The survey found that 93% of the 86 banks surveyed were involved in CBDC-related work at different levels.
BIS: 93% of Central Banks Involved in CBDC Activity
The Bank for International Settlements (BIS), an institution that acts as the bank of central banks, has released the results of a 2022 survey on central bank digital currencies (CBDC) and crypto. In a recent paper titled 'Making Headway,' the institution reports that 93% of the 86 banks included in the survey were 'engaged in some form of CBDC work and more than half are running concrete experiments or working on pilots.'
The paper states that these numbers show the uncertainty regarding the issuance of CBDCs in the short term is fading. However, through their research, some of these central banks are less likely to issue a retail CBDC in the next three years, while others are more likely.
However, the concept of wholesale CBDCs, which would be used as a payment rail between private banks, is gaining acceptance, as the share of the central banks likely to issue this kind of currency has more than doubled since the last survey.
The reasons for issuing CBDCs vary, but the document identifies the enhancement of cross-border payments as one of the drivers of CBDC work and research...
|CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lyne...
During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will 'take the world into a full surveillance economy that can be controlled directly by the central bank.'‘Convincing You to Support a Controlled CBDC Has Begun’
In the past week, discussions about CBDCs have trended on social media, and commentary shows that people are highly skeptical about central bank cryptocurrency assets. Opposition has come from well-known influencers and politicians worldwide. Former Congress member and 2020 U.S. presidential candidate Tulsi Gabbard recently criticized the idea in the United States.
“[The] Biden [administration] aims to implement a central bank digital currency (CBDC) to bring about a cashless society, allowing them to track everything we purchase [and] control our money,” Gabbard opined. “[The] gov's ‘Fednow’ system is needed [as the] first step to achieve their dream of [a] cashless society. This needs to be stopped at its inception, or it will be too late,” she added.
Spotted in London by a member of the team.
We say no #CBDC because we want our financial privacy. pic.twitter.com/nn8nOKq0ya
— Coin Bureau (@coinbureau) April 16, 2023
The U.S. central bank's Fednow ...
|BIS Releases Report On 'Project Icebreaker' — Develops Cross-Borde...
The Bank for International Settlements (BIS) has released a report summarizing the 'Project Icebreaker' trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test 'the technical feasibility of conducting cross-border - cross-currency transactions between different [distrubuted ledger technology]-based CBDC proof of concepts.”Technical Feasibility of Cross-Border Retail CBDC Payments Reportedly Proven in Project Icebreaker Trial
Central bank digital currencies (CBDCs) have been a key focus for the Bank for International Settlements (BIS) in recent times. BIS recently published a report asserting that most crypto asset investors lost money over the past seven years. The report highlighted BIS insisting there’s an urgent need for regulating the crypto industry and developing a CBDC.
Following the report, BIS general manager Agustin Carstens stated that crypto assets have already lost the battle to central bank-issued fiat currencies. Carstens also emphasized the necessity for central banks to take charge of innovation and create a functional CBDC. 'If central banks do not innovate, others will step in,' Carstens cautioned.
On March 6, 2023, BIS published a report titled 'Project Icebreaker: Breaking New Paths in Cross-Border Retail CBDC Payments.' The BIS study highlights the participation of the BIS Innovation Hub Nordic Centre and central ba...
|Crypto Industry Lost Over $650B After Two Major Scandals in 2022: BIS
A recent report by the Bank of International Settlements (BIS) revealed that the crypto industry lost over $650 billion after two major scandals that rocked the market last year.
The report titled 'Crypto Shocks and Retail Losses' explained investors' trading behavior during and after the scandals, their profits and losses, and the effects of the crypto market turmoil in the broader financial system.
Retail Investors Bought the Dip
Last year, the crypto space saw a lot of horrible incidents that forced several firms into bankruptcy, with over $1.8 billion wiped from the market in the aftermath.
One such event is the $40 billion Terra-Luna ecosystem collapse in May. According to the BIS, over $450 billion vanished from the market after the crash.
About six months later, the world's third-largest crypto exchange FTX collapsed, removing over $200 billion from the market.
The BIS also found that daily user activity grew on crypto trading platforms last year as investors tried to adjust their portfolios. They attempted to move away from the tokens that were under stress.
While whales and larger investors sold off their holdings, medium-sized holders and retail investors increased their bitcoin positions by buying the dip. According to the BIS, the whales 'probably cashed out at the expense of smaller holders.'
Limited Effect on the Broader Financial System
Furthermore, the report revealed a weak correlation between crypto losses and the broader financial system. The BIS suggested ...
|BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not B...
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the 'battle' against fiat currencies issued by the world's central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins are not reliable because they lack the 'institutional arrangements and social conventions behind them.'Agustin Carstens Insists Cryptocurrencies Lost the 'Battle' to Fiat Currencies
Agustin Carstens, the general manager of the Bank for International Settlements (BIS), believes that cryptocurrencies have lost the battle against national currencies such as the euro, pound, and yen. Carstens gave a speech at the Monetary Authority of Singapore and was also interviewed by Bloomberg News. The BIS general manager told Bloomberg that the battle between fiat and crypto assets 'has been won.' Carstens insisted that technology alone does not make for 'trusted money.' The BIS GM added:
Only the legal, historical infrastructure behind central banks can give great credibility to money.
'Stablecoins Cannot Guarantee the Singleness of Money'
Carstens made similar statements during a speech at the Monetary Authority of Singapore, using stablecoins as an example. He said that there will always be 'alternative visions of what a future monetary system and digital money could look like' and added that some cryptocurrency proponents believe stablecoins will be the future of money. The BIS general manager whol...
|Most Retail Crypto Investors Lost Money Over the Last 7 Years, According...
According to data from the Bank for International Settlements (BIS), published in the latest BIS Bulletin No. 69, researchers assessed that, on average, most users lost money on their investments over the past seven years. Onchain data, metrics from exchanges, and cryptocurrency application download statistics gathered by BIS researchers suggest that most median retail crypto investors lost money from August 2015 to the end of 2022.BIS Report Shows Majority of Retail Bitcoin Investors Lost Money Over the Last Seven Years
After publishing recommendations from economists at the Bank for International Settlements (BIS) regarding three policies for global regulators, BIS published a report that explores 'crypto shocks and retail losses.' The report initially covers the Terra/Luna collapse and the FTX bankruptcy, during which the researchers observed a significant increase in retail trading activity.
At that time, BIS researchers noted that 'large and sophisticated investors' were selling, while 'smaller retail investors' were buying. In the section titled 'In Stormy Seas, 'the Whales Eat the Krill,'' it is detailed that 'a striking pattern during both episodes was that trading activity on the three major crypto trading platforms increased markedly.'
BIS researchers note that 'larger investors probably cashed out at the expense of smaller holders.' The report adds that whales sold a significant portion of bitcoin (BTC) in the days following the initial shocks from Terra/Luna and ...
|BIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to A...
Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. 'Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public interest,' they advised.BIS Economists Discuss Crypto Policies
The Bank of International Settlements (BIS) published a bulletin last week titled 'Addressing the risks in crypto: laying out the options.'
Authored by BIS economists Matteo Aquilina, Jon Frost, and Andreas Schrimpf, the report discusses the risks associated with cryptocurrencies and the various options available to regulators and central banks for addressing these risks.
The authors outlined 'three potential lines of action.' The first is to 'ban specific crypto activities.' Another option is to 'isolate crypto from tradfi [traditional finance] and the real economy.' The third is to 'regulate the sector in a manner akin to tradfi.' However, the report clarifies that the three options are not mutually exclusive and could be 'selectively combined to mitigate the risks emanating from crypto activities.'
While noting that crypto markets 'have experienced a remarkable series of booms and busts, often resulting in large losses for investors,' the BIS economists concluded that 'these failures have so far not spilled over to the traditional financial system or the real economy.' Nonetheless, they cauti...
|A Large Number of Bitcoin Retail Investors Incur Losses, BIS Study Revea...
The BIS (Bank of International Settlements) is a Switzerland-based bank belonging to 63 national central financial institutions that recently revealed a new survey based on Bitcoin.
Primarily, the BIS offers various banking services to several national central banks. Also, it creates a platform for regulatory policies and monetary discussions. The organization also delivers analysis based on the economy of the nations.
The member central financial institutions of the BIS elected about 18 directors to govern its operations. The central member financial institutions consist of the governors of the central banks in France, Belgium, the United States, Germany, the United Kingdom, and Italy. These are the permanent directors of the board.
They may also collectively appoint another director from one of the member central banks. Finally, the governors from the other member major financial institutions are to elect the 11 directors left of the entire board.
The BIS Study
Considering the ongoing movement of the crypto market, it’s no surprise that many investors are at a loss. Therefore, the BIS decided to look at the situations of crypto investors regarding the current state of the crypto market.
Its findings revealed that about one-third of BTC retail investors are currently at a loss. The study was based on the activities of retail investors on different exchange applications.
According to the survey, most exchange application downloads occurred when BTC was still above $20K...
|BIS Proclaims Success in Multi-CBDC Cross-Border Payment Pilot Project
The Bank for International Settlements (BIS) on Tuesday announced that a multi-jurisdiction CBDC pilot spearheaded by BIS Innovation Hub has been successful. The project saw 164 transactions worth nearly $22 million in real-value cross-border payments through a purpose-built multi-CBDC platform - mBridge.
Apart from the central banks of Hong Kong, China, Thailand, and the United Arab Emirates (UAE), 20 commercial banks also participated in the project, which lasted a little over a month.
Multi-CBDC Cross-Border Payments
Over $12 million worth of official digital assets (CBDC) was issued by the four participating central banks to the test platform, BIS said in a Linkedin post.
'It took place from 15 August to 23 September on the mBridge Ledger, a custom-developed #DLT platform. The 20 participating commercial banks used the platform to settle different kinds of payments for corporate customers, focusing on cross-border trade. Over $12 million in value was issued onto the platform facilitating over 160 cross-border payments and FX transactions totaling more than $22 million in value,' the post said.
BIS has promised to release a detailed report covering technical design, legal, policy, and other regulatory aspects of its mBridge project during Hong Kong Fintech (31 October- 4 November 2022). The Switzerland-based bank of central banks will also reveal a roadmap for the new development.
Tayo Tunyathon K...
|BIS Announces Successful Completion Of CBDC For Cross-border Transaction...
The world is gradually heading towards a cashless society such as CBDC making cash payments obsolete. When this happens, fiat currencies might no more be in use. So central banks are aggressively launching Central Bank Digital Currencies for easy virtual transactions.
Many countries are either in the process of developing their Central Bank Digital Currency (CBDC) or have already done so.
Moving forward for CBDC adoption in cross-border payments, the Bank of International Settlements (BIS) started testing a multi-jurisdictional CBDC one month ago. The BIS has announced the successful completion of the pilot for the multi-jurisdictional central bank digital currency.
The test lasted five weeks with $12 million worth of real-value transactions, facilitating over 160 cross-border payments. In addition, during the pilot, foreign exchange transactions worth over $22 million occurred between 20 participating commercial banks.
Along with the 20 commercial banks, the central banks of China, Hong Kong, Thailand, and UAE also participated in the pilot. This news was shared via a LinkedIn post on Tuesday by Daniel Eidan, an Advisor and Solutions Architect at the Bank of International Settlement.
Fully Functional CBDC Platform To Emerge
The news attracted a lot of comments from financial experts. Maciej Janusz, an eCommerce Business Development executive, asked if the pilot explored commercial aspects of cross-border payments.
Daniel Eidan responded that the pilot explored wholesome CBD...
|BIS Says Crypto Weaknesses Have Materialized Following Market Sell-Off
The Bank of International Settlements (BIS), the global body for central banks, claims the weaknesses in crypto that were pointed out before 'have pretty much materialized.' BIS General Manager Agustin Carstens opined: 'You just cannot defy gravity … At some point, you really have to face the music.'BIS on Crypto Weaknesses
The Bank of International Settlements (BIS) has warned that the danger of decentralized digital money is materializing.
The BIS explained in its Annual Economic Report, published Tuesday, that the crypto market sell-off and the collapse of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST) are indicators of a structural problem in crypto.
'Structural flaws make the crypto universe unsuitable as the basis for a monetary system: it lacks a stable nominal anchor, while limits to its scalability result in fragmentation. Contrary to the decentralisation narrative, crypto often relies on unregulated intermediaries that pose financial risks,' the BIS report reads.
Agustin Carstens, the BIS general manager, said in an interview with Reuters Tuesday that any form of money ultimately lacks credibility without a government-backed authority that can use reserves funded by taxes. He opined:
I think all these weaknesses that were pointed out before have pretty much materialized.
The BIS executive continued: 'You just cannot defy gravity … At some point, you really have to face the music.'
Carstens does not believe that the crypto market ...