New York Fed completes global digital dollar proof of concept

Digital dollar

The Federal Reserve Bank of New York has conducted proof-of-concept experiments into the digital dollar for wholesale domestic and cross-border payments, exploring a global, near-real time, 24/7 payment system.

Participants in the central bank digital currency project included BNY Mellon, Citi, Digital Asset, HSBC, Mastercard, Swift and Wells Fargo. 

Results published on July 6 said the project used a regulated liability network (RLN), a “theoretical payment infrastructure designed to support

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account