Last year, the Hong Kong Monetary Authority (HKMA) said that the mBridge DLT solution for cross border payments would launch a minimum viable product (MVP) in the first half of this year. But this week a key partner, the BIS, would not be drawn on the timing. Other collaborators in the cross border central bank digital currency (cross border CBDC) platform are the central banks of China, Thailand and the UAE. Twenty-three additional central banks and the IMF are project observers.
Frankly, whether or when the mBridge MVP might launch may be a storm in a teacup. However, there are also questions regarding what happens after the MVP.
We’ll come back to the minor inconsistencies over the path forward. First, it’s worth reviewing the political context with the functional benefits already covered elsewhere. At a high level, mBridge enables fast and efficient cross border payments.
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