The Bank of International Settlements (BIS) recently opened a London innovation hub in collaboration with the Bank of England. This is the fourth innovation centre that the organization has launched in the past two years, having already established innovation partnerships with the Hong Kong Monetary Authority, the Monetary Authority of Singapore, and the Swiss National Bank.
The BIS has plans to open further innovation centres in Toronto with the Bank of Canada, with the European Central Bank, and the Eurosystem in Frankfurt and Paris, with four central banks in the Nordic region. It has also signed a memorandum of understanding for strategic collaboration with the US Federal Reserve.
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