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Financial authorities in France and Singapore are actively exploring the cross-border application of central bank digital currencies (CBDCs).
In a joint announcement on Thursday, the Bank of France and the Monetary Authority of Singapore (MAS) stated that they successfully fully The entire cross-border payment and settlement experiment using CBDC and blockchain technology.
The CBDC experiment was carried out with the support and expertise of JPMorgan Chase Onyx department focusing on digital currency On a privacy-enabled blockchain based on the investment bank Quorum’s blockchain infrastructure.
As part of the experiment, Bank of France and MAS simulated cross-border and cross-currency transactions based on Singapore dollar CBDC and the euro.
“Although the experiment is limited to two central banks, the design of m-CBDC [multiple CBDCs] The network enables it to scale up to support the participation of multiple central banks and commercial banks located in different jurisdictions,” the announcement read.
This story is developing and will be updated
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