Thesis. 2026 marks the global doctrinal shift. Private-regulated dollar (GENIUS Act), public-regulated euro (ECB), public-interest-bearing yuan (PBOC). Stablecoins become a…
Dollar-backed stablecoins have become a dual-use instrument of U.S. economic power, extending the dollar's reach into markets where correspondent banking…
The Quietest Race in Monetary History Never before have so many central banks worked simultaneously on the same transformation. According…
mBridge is a multi-CBDC (wholesale) platform for cross-border payments and foreign exchange settlements in central bank digital currencies. Originating from…
1.1 Direct Ownership Tokens 1.1.1 On-chain Representation of Carbon Credits Held in Custody by the Investor Direct ownership tokens constitute…
The gradual shift of the XRP Ledger (XRPL) from a simple payment network to a true institutional settlement layer (RWA,…
L’escalade militaire entre les États-Unis et l’Iran, initiée fin février 2026, a déclenché une reconfiguration structurelle du système financier mondial. L’Iran a monétisé…
Project Agorá (Greek for “marketplace”) is a major BIS Innovation Hub initiative launched in April 2024. It is a public-private…
Ethereum-based repo (repurchase agreement) tokenization pilots are primarily led by major European and Swiss institutions, building on 2024 experiments and…
1. Introduction et contexte stratégique Le document de la BCE représente un tournant décisif dans l’architecture monétaire européenne. Pour un…