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Project Mariana, the measure aimed at foreign exchange and liquidity management, involves MAS, the central bank of France, Banque de France, and the central bank of Switzerland, Swiss National Bank, along with the Bank for International Settlements (BIS) Innovation Hub centres. The project will explore foreign exchange transactions with Swiss
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The banks involved in the pilot were DBS, JPMorgan, and SBI Digital Asset. Source
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The Reserve Bank of India will begin its wholesale e-rupee pilot project on Nov. 1 with a focus on settlement of secondary market transactions in government securities. Original Source
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The Bank for International Settlements (BIS) has released the full details of its mBridge pilot project to use central bank digital currencies (CBDCs) for foreign exchange. Commercial banks in four jurisdictions made cross-border transfers using CBDCs and distributed ledger (blockchain) technology in the project, which was heralded as a success.Twenty
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Retail CBDCs, issued directly by a central bank to a country's citizens, who can use them to purchase goods and services, can theoretically cut out traditional intermediaries like commercial banks, Galhau said, addressing a more contentious type of CBDC. Original Source
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The Philippines will pursue a wholesale central bank digital currency pilot project, to be called Project CBDCPh, Bangko Sentral ng Pilipinas governor Benjamin E. Diokno announced Wednesday. Diokno spoke about the project last week at a roundtable of the 14th Annual Group of 24/Alliance for Financial Inclusion Policymakers held at
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The primary hurdle for the banks, which serve corporate clients rather than individuals or small organizations, has been the lack of a clear regulatory framework, analysts led by Betsy Graseck wrote. Still, greater regulation may not be a panacea, as that might encourage more direct participation from institutional investors, leaving
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South Africa has taken another step closer to implementing its central bank digital currency (CBDC) as the South African Reserve Bank (SARB) concludes a technical proof-of-concept for the project.The project, titled Project Khokha 2 (PK2), is the second phase of SARB’s Project Khokha (PK1), launched in 2018. It experimented with
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Switzerland took another step to clarify the roadmap for integrating central bank digital currencies (CBDC) into the current financial system. The Swiss National Bank (SNB), the country's central bank, completed the second phase of Project Helvetia with its partners by integrating wholesale CBDC into the existing back-office systems and processes of five
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The testing, which took place over three days at the start of December 2021, proved that issuing a wholesale CBDC on a DLT platform operated and owned by a private-sector company (Swiss stock exchange owner SIX, in this case) was both operationally possible and feasible under Swiss law, according to
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