Bank of Canada Governor Tiff Macklem said that as finance evolves, the industry must innovate and apply new skills, allowing Canadians to benefit from advancements.
The Bank of International Settlements (BIS) unveiled its new innovation hub in Canada in collaboration with the country’s central bank.
On June 13, the international financial institution and the Bank of Canada (BOC) announced the inauguration of the BIS Toronto Innovation Centre, which will help further the BIS Innovation Hub’s work. The Toronto hub will explore the development of new technologies to promote inclusivity and efficiency in the financial system.
The hub will focus on six priority themes for BIS: central bank digital currencies (CBDCs), green finance, cybersecurity, open finance, innovation for regulatory and supervisory purposes and next-generation financial market infrastructures.
