BIS and French and Swiss central banks announce joint CBDC project

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Photo: Daniel Hinge

The Bank for International Settlements announced it will work with two central banks to test a cross-border wholesale central bank digital currency (CBDC).

The BIS Innovation Hub, the Banque de France and the Swiss National Bank will work with a private sector consortium led by Accenture to experiment. The initiative, named Project Jura, will use a wholesale CBDC for cross-border settlement.

The private sector consortium consists of two major lenders from Switzerland, Credit Suisse and UBS

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