BIS wraps up cross-border CBDC trial

Project Mariana explored FX settlement using ‘automated market-makers’


The Bank for International Settlements (BIS) said it had successfully tested technology for a global interbank market in foreign exchange underpinned by wholesale central bank digital currency (wCBDC).

A key element of Project Mariana, conducted by the eurozone, Switzerland and Singapore branches of the BIS Innovation Hub, was the use of automated market-makers (AMMs). An AMM is a decentralised exchange that pools liquidity denominated in various countries’ wCBDCs, using algorithms to enable

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