BIS launches market intelligence platform amidst stablecoin, DeFi crashes

The Bank for International Settlements (BIS) Innovation Hub has announced a series of new projects targeting various aspects of traditional and crypto payments – including the cryptocurrency market intelligence platform and the security of retail central bank (CBDC) digital currencies.

The BIS Cryptocurrency Market Intelligence Platform will be launched under the idea of the European System Center to provide moderated data on crypto projects.

Its first project was an intelligent platform for the cryptocurrency market, a demand accentuating the collapse of many stablecoins and decentralized financial lending (DeFi) platforms. The goal is to create an open-source market information platform to shed light on market capitalization, economic activity, and the risks to financial stability.

The second project relates to postquantum crypto-currency and ensures the privacy of payment systems. Quantum computers can potentially circumvent the cryptography used by central banks and the private financial sector to secure payment and settlement systems. The aim is to examine the use cases in different payment systems and how the introduction of anti-quantum cryptography affects their performance.

Enhancing the transparency of climate-related disclosures is the third BIS project. Central banks are increasingly considering how climate change can affect financial stability, inflation, and other issues. The center aims to build an open-source database of company reports along with a full-text search engine to identify sustainability-related disclosures.

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