BIS Innovation Hub and Central Banks of Australia, Malaysia, Singapore and South Africa Develop Experimental Multi-CBDC Platform for International Settlements

<ul> <li><span>Project Dunbar developed two prototypes for a shared platform that could enable international settlements using digital currencies issued by multiple central banks.</span></li> <li><span>The platform was designed to facilitate direct cross-border transactions between financial institutions in different currencies, with the potential to cut costs and increase speed.&nbsp;</span></li> <li><span>The project identified challenges of implementing a multi-CBDC platform shared across central banks and proposes practical design solutions to address them.&nbsp;</span></li> </ul>

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