• BIS Innovation Hub to extend global reach with four new centres over next two years in collaboration with central banks.
• New locations in Toronto, London, Frankfurt & Paris and Stockholm; strategic partnership in New York.
• Expansion will allow Innovation Hub to spur central bank work across multiple fintech pillars.

The Board of the Bank for International Settlements (BIS) today announced the expansion of the BIS Innovation Hub with the establishment of new Hub centres across Europe and in North America in cooperation with member central banks.

The #BISInnovationHub is pleased to work with @bankofengland on a new Hub centre in London to further the development of fintech initiatives for the global financial system https://t.co/0BCdcrEFeY pic.twitter.com/MXhZeFwJzj

— Bank for International Settlements (@BIS_org) June 30, 2020

In the next two years, the BIS will open centres in collaboration with the Bank of Canada (Toronto), the Bank of England (London), the European Central Bank/Eurosystem (Frankfurt and Paris) and four Nordic central banks (Danmarks Nationalbank, the Central Bank of Iceland, the Central Bank of Norway and Sveriges Riksbank) in Stockholm. The BIS will also form a strategic partnership with the Federal Reserve System (New York).

The expansion will build on the foundation already put in place by the first three Hub Centres – in Hong Kong SAR with the Hong Kong Monetary Authority, Singapore with the Monetary Authority of Singapore, and Switzerland with the Swiss National Bank.

Source: BIS