BIS wraps exploration project on retail CBDC payment system

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.

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

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…