Future of money lies in a new payments ecosystem

Bank of International Settlements chief Agustin Carstens proposed the creation of a unified programmable ledger. PHOTO ILLUSTRATION: PEXELS
New: Gift this subscriber-only story to your friends and family

Given that forms of money are changing, central banks need to keep up, according to Bank of International Settlements chief Agustin Carstens.

“As you see, with the development of Bitcoin and other crypto assets, in some sections of society, there is demand for a different representation of money, with a different technological system,’’ he said at a media briefing last week.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.