BoE wants to ensure tokenized wholesale transactions use central bank money - 0 views
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John Kiff about 4 hours agoBank of England (BoE) Executive Director of Financial Market Infrastructure Sasha Mills outlined the need for tokenized wholesale transactions to be settled in central bank money. "If central bank money is unable to interact with new technologies, there could be a risk of high value wholesale settlement activity moving away from central bank money to private settlement assets, weakening financial stability." Options include the use of the BoE's omnibus account facility, extending real-time gross settlement (RTGS) system hours, and wholesale CBDC. https://www.bankofengland.co.uk/speech/2024/october/sasha-mills-keynote-speech-at-the-digital-assets-week