Central Banking

Research project weighs bold plans for cross-border payments

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A group of major central banks and commercial banks have published research setting out radical ideas for the future of cross-border payments.

One particularly striking idea is to link the world’s economies together by means of a wholesale central bank digital currency, underpinned by a single global token.

The research collaboration brought together the Monetary Authority of Singapore, Bank of Canada and Bank of England – which have made some of the largest advances on applications of

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