HomeDIGITAL ASSETS REGULATORYsingapur_MASSuccessful Testing of Cross-Border Wholesale CBDCs by BIS and Central Banks of...

Successful Testing of Cross-Border Wholesale CBDCs by BIS and Central Banks of France, Singapore, and Switzerland

Project Mariana, a joint initiative between the Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland, has been successfully concluded. This collaborative effort aimed to explore the potential of central bank digital currencies (CBDCs) and develop a proof-of-concept for cross-border transactions. The project’s success signifies significant progress in the exploration and development of CBDCs, which have gained increased attention in recent years. The findings from Project Mariana will contribute to the ongoing discussions and research on CBDCs, as central banks continue to evaluate the benefits and challenges of implementing digital currencies.

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