The New York Fed and the Bank for International Settlements (BIS) have shifted their focus from central bank digital currencies (CBDCs) to tokenized assets under Project Pine. This initiative, housed at the New York Innovation Center, aims to create more efficient and programmable financial systems. 💰 The project’s success has spurred a significant surge in the value of tokenized real-world assets, reaching $22 billion. 📈 Key features include programmable, tokenized assets for monetary policy changes and faster responses from central banks. This shift aligns with regulatory changes to accommodate on-chain financial instruments. The potential outcomes are ambitious – accelerated global integration of tokenized assets into existing financial systems.