This solution aims to deliver speed and transparency to payments of up to US$10,000, enabling users to send USD, GBP and EUR payments cross-border with a breakdown of how much it will cost them in deductions before they execute
The Bank for International Settlements has completed a pilot with four central banks as part of its Project mBridge initiative that aims to deliver cross-border payments between commercial banks using central bank digital currencies
SWIFT said this marks a “major milestone” for the industry toward “enabling CBDCs and tokenised assets’ smooth integration into the international financial ecosystem”
New report by the BIS, IMF and World Bank says central banks must review multinational interoperability and foreign investor access to secure best use of central bank digital currencies in cross-border payments
The Bank for International Settlements outlines its programme for its soon-to-launch Eurosystem Centre, with offices in Frankfurt and Paris, and new projects for its Hong Kong Centre
Countries launching CBDCs may face the associated risks involved, but the countries that do not face being left behind, says Anton Chashchin, managing partner of Bitfrost.io, commenting on what CBDC implementation could mean in the future
The Depository Trust and Clearing Corporation has released a prototype, developed in collaboration with The Digital Dollar Project, to examine how a central bank digital currency (CBDC) may operate in the US clearing and settlement infrastructure
Under Project Dunbar, the BIS Innovation Hub has developed two prototypes for a shared platform that will potentially enable international settlements using digital currencies issued by multiple central banks
BIS, SNB and SIX have successfully completed the second phase of Project Helvetia — a tested integration of wholesale central bank digital currency settlement with commercial banks
SETL is to work with SWIFT on an innovation pilot as part of a wider effort to support interoperability in the development of the tokenised asset market