New York Fed & BIS Launch Project Pine to Adapt Central Banking in Tokenized Markets

The New York Federal Reserve and Bank for International Settlements (BIS) have unveiled Project Pine, a pioneering initiative aimed at fostering adaptation within central banking functions as we transition towards tokenized financial markets. Launched on May 14, 2025, this groundbreaking project explores how central banks can effectively operate within this innovative landscape, offering significant implications for future monetary policy operations.