The Central banks in Australia, Singapore, Malaysia, and South Africa are set to conduct a cross-border payments trial using different central bank digital currencies (CBDC).
Bank of International Settlement (BIS) Innovation Hub is leading the scheme.
This latest project aims to develop prototype shared platforms for cross-border transactions using multiple CBDCs
Another BIS-led project exploring using CBDCs for cross-border payments is also underway involving central banks from China, Hong Kong, Thailand, and the UAE.
