The BIS Innovation Hub Hong Kong published its report on the MBridge Pilot, a multi-CBDC initiative for cross border payments involving the central banks of China, Hong Kong, Thailand and UAE. Twenty commercial banks were involved and another six central banks participated as observers of the central bank digital currency (CBDC) project.
During the pilot, which ran for five weeks to 23 September, $12 million in currency was issued and $22 million in trade transactions were executed.
Two of the highlights are using a custom-built permissioned blockchain and privacy.
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