BIS-led CBDC trial could cut cross-border transfer time by 80%

Cross-border CBDC project seeks faster, cheaper payments by cutting out middlemen

network-social
Getty Images

A cross-border central bank digital currency (CBDC) platform has the potential to shorten the time of cross-border wholesale payment transfers by 80% and halve costs, a report says.

The “multi-CBDC bridge” project, or simply “mBridge”, which is being co-ordinated by the Bank for International Settlements’ innovation hub in Hong Kong, has concluded its second phase and is set to move on to a third. The central banks of China, Hong Kong, Thailand and the United Arab Emirates are working with the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: