China, Hong Kong, Thailand and UAE complete cross-border CBDC test
Bank for International Settlements co-ordinated the trial on its mBridge platform
The central banks of China, Hong Kong, Thailand and the United Arab Emirates have completed a cross-border digital currency trial co-ordinated by the Bank for International Settlements.
The central bank digital currency (CBDC) trial ran from August 15 to September 23. It used the mBridge platform, the BIS’s prototype cross-border payments system.
The participants executed 150 cross-border payments and foreign exchange transactions totalling $22 million, said the South China Morning Post, which
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