The Bank for International Settlements launches its seventh innovation hub in Toronto, marking a significant milestone in financial technology development across the Americas.
Highlights:
- The BIS has opened its first innovation hub in the Americas, located in Toronto.
- The Toronto Innovation Centre will focus on next-generation financial market infrastructures, regulatory innovation, and open finance.
- The hub aims to foster a modern, efficient, and inclusive financial system in collaboration with the Bank of Canada and other central banks.
Story: The Bank for International Settlements (BIS) has inaugurated its seventh innovation hub in Toronto, marking its first presence in the Americas. Supported by the Bank of Canada, the Toronto Innovation Centre will explore the development of emerging technologies to enhance financial systems across Canada, Latin America, and the Caribbean. The centre will initially focus on projects related to next-generation financial market infrastructures, regulatory innovation, and open finance.
This initiative represents a significant milestone in BIS’s mission to build a modern, efficient, and inclusive financial system through innovation and experimentation. The Toronto hub joins six other BIS Innovation Hub Centres located in Switzerland, the Eurosystem, London, the Nordics, Hong Kong, and Singapore.
