Central bankers reflect on wins and challenges of mBridge
Multi-CBDC project’s transaction value has grown, but regulatory and operational issues remain
Central bankers leading the mBridge project have highlighted some successes and challenges of the cross-border wholesale central bank digital currency (CBDC) initiative.
Led by the Bank for international Settlements and the central banks of China, Hong Kong, Thailand, the UAE and Saudi Arabia, mBridge is a multi-CBDC platform built on distributed ledger technology.
Speaking at the Sibos conference in Beijing on October 23, Lu Lei, deputy governor of the People’s Bank of China (PBoC), said mBridge
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