The collaborative initiative known as Project Dunbar joins forces among the Reserve Bank of Australia, Bank Negara Malaysia, Monetary Authority of Singapore, and South African Reserve Bank, partnering with the BIS Innovation Hub. Its primary objective is to pilot the application of central bank digital currencies (CBDCs) in international settlements. By leveraging multi-CBDCs, the project aims to streamline cross-border payments, rendering them more cost-effective, expeditious, and secure. Throughout the endeavor, we address and overcome pivotal hurdles in crafting a shared settlement platform for multi-CBDCs.
HomeCBDCBIS Projects"Dunbar Project: Global Transactions with Multiple Central Bank Digital Currencies"