Central banks of China and United Arab Emirates join digital currency project for cross-border payments (Bank for International Settlements)
The Digital Currency Institute of the People's Bank of China and the Central Bank of the United Arab Emirates join the Multiple CBDC (m-CBDC) Bridge, a cross-border payments project.
The m-CBDC Bridge is a co-creation initiative run in partnership with the BIS Innovation Hub, the Hong Kong Monetary Authority and the Bank of Thailand.
The project aims to develop a proof-of-concept prototype to facilitate real-time cross-border foreign exchange payments on distributed ledger technology.