Central banks complete cross-border open finance prototype
BIS-led initiative connects systems of Brazil, Hong Kong, India, UK and UAE
A collaboration between central banks and financial authorities across Asia, Europe and the Americas has built a prototype enabling cross-border open finance.
Led by the Bank for International Settlements, the project connected the open finance networks of the UK, the United Arab Emirates, Brazil, Hong Kong and India.
“While open banking and open finance frameworks have transformed domestic markets in around 95 jurisdictions, their benefits rarely extend across borders,” the announcement on May
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