Crypto or super-correspondents: central banks look to the future

Research lays out three ways forward for cross-border payments

Central banks could take over correspondent banking, or switch to making payments in digital currency, under proposals from a group including the Bank of England and HSBC.

A group of major central banks and commercial banks, including the Monetary Authority of Singapore, Bank of Canada and Bank of England – which have made some of the largest advances on applications of financial technology – and a consortium of banks led by HSBC, have published research setting out radical ideas for the future