Central and commercial banks from Hong Kong, Thailand, China and UAE have just concluded a month-long CBDC pilot, which has been marked 'successful' by the Bank for International Settlements.
cross-border payments and the role the central banks have on the platform, adding “we will likely consider more commercial aspects in the future stages of our work.”
The platform, known as “mBridge” short for Multiple CBDC Bridge is a part of Project Inthanon-LionRock, aCBDC cross-border payment project launched initially in Sept. 2019 involving the Thai and Hong Kong central banks. With the first pilot of the platform now completed the project has moved into its third and final stage before a minimum version of the product with only the platform's core functionality is put to market.
A fully-functional CBDC cross payments platform will only be ready after revisions are made taking into account the feedback from the minimum version, according to a
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