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BIS wraps exploration project on retail CBDC payment system

Summary by Ground News
The Bank for International Settlements, or BIS, has concluded a project exploring international retail and remittance payments use cases for central bank digital currencies. The project involved the central banks of Israel, Norway and Sweden. The report could provide the groundwork for a cross-border payment system. Other countries have been moving forward on large-scale trials of digital currencies, including China.
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BIS wraps exploration project on retail CBDC payment system

The bank concluded that a ‘hub-and-spoke’ model between CBDC domestic systems could “reduce settlement and counterparty risk

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CointelegraphCointelegraph

BIS wraps exploration project on retail CBDC payment system

The Bank for International Settlements said it had concluded its Project Icebreaker, a CBDC initiative conducted with assistance from the central banks of Norway, Israel, and Sweden.

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TelegraphTelegraph

BIS develops cross-border retail CBDC payment system

A cross-border system connecting central bank digital currencies could allow for cheaper and safer global payments, according to a report published by the Bank of International Settlements on Monday.  The Basel-based bank for central banks’ Innovation Hub, in cooperation with the central banks of Israel, Norway and Sweden, has wrapped up “Project Icebreaker” to find solutions for DLT-based cross-border transactions. The project “first allows cen…

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Telegraph broke the news in on Monday, March 6, 2023.
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