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Australia, Malaysia Singapore join forces to test digital currencies ‘blueprint’ but US remains ‘sceptical’

Summary:
[unable to retrieve full-text content]Central banks in Australia, Singapore, Malaysia and South Africa will join forces to test the use of multiple central bank digital currencies (CBDCs) on a shared platform for cross border payments and settlements.Led by the Bank for International Settlements (BIS) Innovation Hub in Singapore, Project Dunbar is aimed at allowing financial institutions to transact with each other in the digital currencies issued by participating central banks, cutting the time and cost of transactions, the BIS…

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[unable to retrieve full-text content]
Central banks in Australia, Singapore, Malaysia and South Africa will join forces to test the use of multiple central bank digital currencies (CBDCs) on a shared platform for cross border payments and settlements.Led by the Bank for International Settlements (BIS) Innovation Hub in Singapore, Project Dunbar is aimed at allowing financial institutions to transact with each other in the digital currencies issued by participating central banks, cutting the time and cost of transactions, the BIS…

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