Many governments and central banks around the world are exploring the use of central bank digital currencies (CBDCs), including China. Photo: Xinhua
Many governments and central banks around the world are exploring the use of central bank digital currencies (CBDCs), including China. Photo: Xinhua

Central bank digital currencies can make cross border payments ‘faster and cheaper’, BIS says

  • The Bank of International Settlements (BIS)-backed pilot scheme used blockchain to synchronise transaction data across participants in the payment chain
  • The ‘mBridge’ pilot scheme involves the central banks of China, the United Arab Emirates, Hong Kong and Thailand

Many governments and central banks around the world are exploring the use of central bank digital currencies (CBDCs), including China. Photo: Xinhua
Many governments and central banks around the world are exploring the use of central bank digital currencies (CBDCs), including China. Photo: Xinhua
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