In June 2021, the BIS established an innovation centre in Stockholm in collaboration with the central banks of Denmark, Iceland, Norway and Sweden. This Nordic Innovation Centre will focus on a more in-depth analysis of technological financial innovation relevant to central banks. It will function as a hub for a network of innovation experts, for research on important trends in financial technology of significance for central banks and for promoting international collaboration. The centre will also contribute to more in-depth knowledge in several areas relevant to central banks, such as central bank digital currencies, payment infrastructure, cyber security and financial sustainability.