BIS and central banks say multi-CBDC platform trial was a success
Central banks of China, Hong Kong, Thailand and UAE took part in US$22 million cross-border trial
The Bank of International Settlements and four central banks said they will continue developing a cross-border central bank digital currency (CBDC) platform after a successful trial.
The BIS Innovation Hub in Hong Kong co-ordinated the trial for the mBridge platform. It worked with the central banks of China, Hong Kong, Thailand and the United Arab Emirates.
The participants said they aim to take the project forward in 2023 and 2024, develop the mBridge platform into a minimum viable product
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial market infrastructure
The GFXC chair on the next steps for the global FX code
Global FX Committee chair Gerado García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and Mexico’s Libor reforms
BNM eases rules on ringgit bond issuances
Change makes it easier for foreign institutions to issue debt denominated in Malaysian currency
Georgia and Namibia sign MoUs with MAS’s new fintech network
Singapore’s GFTN agrees to provide advisory services to emerging economies’ central banks
AI combines age-old issues with new opportunities, say panel
Governors from Rwanda, South Africa, and Sweden weigh in on how AI will change central banking
HKMA sets up company to run bond settlement system
Business will run the Central Moneymarkets Unit under new governance structure
New Zealand looks into expanding RTGS access to smaller firms
Central bank seeks to strike balance between opening access and mitigating risks from non-banks
MAS boosts support for training financial leaders
Singapore’s central bank to provide more funding to upskill promising finance professionals
Bank of Thailand launches data-sharing initiative
Central bank and regulators plan to make consent-based data-sharing mechanism operational in 2026