1/3  BIS central bankers' speeches  The basis for innovation: a sound market infrastructure A domestic European payments market – which is both integrated and innovative – is fundamental to the creation of a more integrated, competitive and innovative Europe.
And in a world of increasing digitalisation and globalisation, such an integrated and competitive  payments market can only be achieved by exploiting the potential offered by ever more sophisticated innovative technology. Both established and new market actors should be able to benefit from the innovative space created.