The Bank for International Settlements Innovation Center and the Swiss National Bank (SNB) are working with the World Bank to tokenize development funds for emerging economies, and the bank will explore use cases with the IMF, which is currently provided in the form of paper cashier's checks stored in vaults, Golden Finance reported. Cecilia Skingsley, Head of the Innovation Center at the Bank for International Settlements, gave a brief overview of the project during her keynote speech at the Atlantic Council-hosted Central Bank Digital Currency (CBDC) event. While she did not mention specific figures, the World Bank's financing commitment for 2022 is $115 billion. Since the program is still in its very early stages, the specifics were not disclosed.