The Bank for International Settlements (BIS) has announced the successful completion of the “first CBDC pilot,” as part of the second phase of Project Inthanon-LionRock. Project details The project, which took place between 15 August to 23 September, saw participation from 20 banks as well as the central banks of four different jurisdictions, namely Hong […]
the successful completion of the “first CBDC pilot,” as part of the second phase of Project Inthanon-LionRock.The project, which took place between 15 August to 23 September, saw participation from 20 banks as well as the central banks of four different jurisdictions, namely Hong Kong, Thailand, UAE, and China.
The pilot program was carried out on a custom-developed Distributed Ledger Technology Platform called mBridge, which is also known as a multiple CBDC bridge.This project took help from the findings of the first phase of Project Inthanon-LionRock, in order to develop a proof-of-concept prototype, and enhance the capabilities of DLT, all in pursuit of weighing the viability of CBDCs in cross-border settlements involving multiple nations.
This joint venture was supported by the Bank for International Settlements Innovation Hub Center in Hong Kong and the project was renamed as “m-CBDC Bridge”.
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