Gaston Gelos explains how digital innovation – from tokenisation to stablecoins – can upgrade the two-tier monetary system while safeguarding trust in money.
Fintechs and big techs have crowded into retail payments, yet Visa and Mastercard still process ~95% of card transactions in major markets outside China. Explore the latest BIS Bulletin.
More BIS publications
Statistical release:International banking statistics Cross-border bank credit rose by $1.7 trillion in Q1 2026, reaching $39.5 trillion.
Working Paper: The AI investment race Business development companies have lent around $115 billion to software firms, making up about 20% of all such lending.
BIS Management speech: What makes money, money? Andréa M Maechler explains how to ensure trust in the next generation financial ecosystem.
