BIS to work on cross-border CBDC test with four central banks

BIS with flags
Dan Hinge

The Bank for International Settlements is set to work with four central banks to test the settlement of cross-border transactions using their prototype central bank digital currencies.  

The BIS will collaborate with the central banks of Australia, Malaysia, Singapore (MAS) and South Africa on ‘Project Dunbar’.

The project will initially develop a number of prototype “shared” distributed ledger platforms, according to the BIS’s Singapore innovation hub.  

The platforms will allow financial

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