利用代币化进行支付和金融交易（英）

Consultative Group onInnovation and the DigitalEconomy Leveraging tokenisation forpayments and financial transactions April 2025 BIS Representative Office for the Americas This publication is available on the BIS website (www.bis.org). Table of contents Foreword............................................................................................................................................................................................... 1Executive summary ........................................................................................................................................................................... 2Introduction......................................................................................................................................................................................... 31Role of integrated financial ecosystems ................................................................................................................ 42Preconditions and other considerations................................................................................................................ 52.1.Preconditions........................................................................................................................................................... 52.2.Other considerations............................................................................................................................................ 53Use cases ............................................................................................................................................................................ 73.1.Theoretical use cases............................................................................................................................................ 73.2.Real-world use cases ............................................................................................................................................ 93.2.1Initiatives run by the Central Bank of Brazil (BCB) .................................................................................... 93.2.2Initiatives run by the Central Bank of Colombia (BanRep) ..................................................................103.3.Discussions within the CGIDE .........................................................................................................................12Conclusion..........................................................................................................................................................................................15References..........................................................................................................................................................................................16Glossary ..............................................................................................................................................................................................17Annex A – Members of the task force of the Consultative Group on Innovation and the DigitalEconomy ...........................................................................................................................................................................18Annex B – Potential use cases through interconnected unified ledgers...................................................................19 Foreword Tokenisation has the potential to reshape the financial system. It can have significant implications forpayments and financial markets, offering increased efficiency, transparency and accessibility. In this regard,central banks play a key role in accommodating new technologies and ensuring market equilibrium, whilealso preserving the singleness of money. The advantages of tokenisation can be exploited in the contextof unified ledgers, integrating central bank money, commercial bank money and other assets, to streamlineoperations and enhance overall efficiency. The Consultative Group on Innovation and the Digital Economy (CGIDE) was launched in February2020 to meet the demand for greater cooperation in technological innovation and the digital economy byBIS member central banks in the Americas. It reports to the Consultative Council for the Americas (CCA),which brings together the Governors of the central banks of Argentina, Brazil, Canada, Chile, Colombia,Mexico, Peru and the United States (Board of Governors of the Federal Reserve System and Federal ReserveBank of New York). This group provides a forum where senior central bank officials can cooperate in pursuitof the following objectives: a.analysing and developing public technological infrastructures geared towards tackling commonshortcomings in all participating jurisdictions;b.promoting an environment suitable to open banking, potentially through the development of keyapplication programming interfaces (APIs); andc.analysing these public technological in