continue implementing monetary policy operations in a tokenised world. Project Pine is a joint research study by the New York Fed's New York Innovation Center and the BIS Innovation Hub Swiss Centre that explores if and how central banks can implement monetary policy in a potential future state where the financial sector widely adopts tokenisation in wholesale markets. The project team successfully built a toolkit prototype using smart contracts. The prototype has the capability to pay interest on reserves and create facilities that temporarily exchange reserves for collateral (and vice versa), swap assets, and execute asset purchases and sales. […]