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 for International Settlements
Daniel Hinge

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

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