The Bank for International Settlements and the central banks of Australia, Malaysia, Singapore and South Africa have developed two prototypes for a shared platform that could enable international settlements using digital currencies issued by multiple central banks.
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Bank Negara Malaysia (BNM), together with the Bank for International Settlements (BIS) Innovation Hub, the Reserve Bank of Australia, the Monetary Authority of Singapore, and the South African Reserve Bank have developed the prototypes for a common platform that enable international settlements using multiple central bank digital currencies (mCBDCs).
The Reserve Bank has released a report on Project Dunbar, exploring blockchain technology for settling remittances with South Africa, Singapore and Malaysia.