The CPMI, the Bank for International Settlements committee on payments and market infrastructures, published a report on October 29, 2026 on the roles of central banks and central bank money in the evolving payment system. It covers fast payment systems, non-bank payment service providers, tokenised deposits, stablecoins and programmable platforms.
Why it matters: The report groups central bank policy tools under four roles, as issuer of money, operator, overseer and catalyst, and under the issuer role it asks which entities should have central bank accounts, for which services and on what terms. For overseers, the CPMI asks central banks to assess whether stablecoin and tokenised arrangements perform functions similar to financial market infrastructures, along with their systemic importance, governance and operational resilience.
Source: Bank for International Settlements, October 29, 2026
Related: Ripple wins final OCC approval for its national trust bank · Swift ledger carries live tokenised payments for most of its first-mover banks
Image: Fred Romero, CC BY 2.0, via Wikimedia Commons
