Category: BIS Innovation Hub

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Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

September 3, 2021

The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With…
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Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot

September 2, 2021

The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies. The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to trial international settlements using central bank digital currencies (CBDCs). The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct…
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