{"id":496560,"date":"2022-09-28T08:17:55","date_gmt":"2022-09-28T05:17:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bis-marks-cbdc-pilot-as-successful-with-22m-transacted\/"},"modified":"2022-09-28T08:17:55","modified_gmt":"2022-09-28T05:17:55","slug":"bis-marks-cbdc-pilot-as-successful-with-22m-transacted","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bis-marks-cbdc-pilot-as-successful-with-22m-transacted\/","title":{"rendered":"# BIS marks CBDC pilot as &#8216;successful&#8217; with $22M transacted"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25b3d71c04e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25b3d71c04e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bis-marks-cbdc-pilot-as-successful-with-22m-transacted\/#%E2%80%9D_BIS_marks_CBDC_pilot_as_%E2%80%98successful_with_22M_transacted_%E2%80%9C\" >&#8221; BIS marks CBDC pilot as &#8216;successful&#8217; with $22M transacted &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BIS_marks_CBDC_pilot_as_%E2%80%98successful_with_22M_transacted_%E2%80%9C\"><\/span>&#8221; BIS marks CBDC pilot as &#8216;successful&#8217; with $22M transacted &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f>A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked \u201csuccessful\u201d by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions.<\/p>\n<p>The central banks of Hong Kong, Thailand, China and the United Arab Emirates (UAE) took part in the pilot program along with 20 commercial banks from those regions.<\/p>\n<p>More than $12 million worth of value was issued onto the test platform, which facilitated 164 foreign exchange transactions and cross-border payments between the participating firms totaling over $22 million worth of value according to a Tuesday LinkedIn <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:6980330210030145536\/\">post<\/a> from the BIS.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/5a0864ec-14ae-40b6-b54f-c82acf2ff2e7.jpg\"><figcaption style=\"text-align: center;\"><em>Graphic from the BIS on the CBDC pilot. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:6980330210030145536\/\"><em>LinkedIn<\/em><\/a><\/figcaption><\/figure>\n<p>Daniel Eidan an advisor and solution architect at the BIS <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:6980428570535854080\/?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6980428570535854080%2C6980477491094126592%29&amp;replyUrn=urn%3Ali%3Acomment%3A%28activity%3A6980428570535854080%2C6980483198845628417%29&amp;dashCommentUrn=urn%3Ali%3Afsd_comment%3A%286980477491094126592%2Curn%3Ali%3Aactivity%3A6980428570535854080%29&amp;dashReplyUrn=urn%3Ali%3Afsd_comment%3A%286980483198845628417%2Curn%3Ali%3Aactivity%3A6980428570535854080%29\">said<\/a> the pilot focused on wholesale CBDC cross-border payments and the role the central banks have on the platform, adding \u201cwe will likely consider more commercial aspects in the future stages of our work.\u201d<\/p>\n<p>The platform, known as \u201cmBridge\u201d short for Multiple CBDC (mCBDC) Bridge is a part of Project Inthanon-LionRock, a distributed ledger <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> (DLT) CBDC cross-border payment project launched initially in Sept. 2019 involving the Thai and Hong Kong central banks.<\/p>\n<p>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&#8217;s core functionality is put to market.<\/p>\n<p>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 Sept. 2021 BIS report.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Russia aims to use CBDC for international settlements with China: Report<\/em><\/strong><\/p>\n<p>The BIS added that a detailed progress report on mBridge will be released in October which will discuss technical design, legal, policy and regulatory considerations along with a future roadmap of mBridge.<\/p>\n<p>A June report by the BIS revealed around 90% of central banks are investigating the adoption of CBDCs. Currently, 11 CBDCs have launched, 15 are in a pilot stage and 26 are in development according to the CBDC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.atlanticcouncil.org\/cbdctracker\/\">tracker<\/a> from think tank Atlantic Council.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"consulting_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bis-marks-cbdc-pilot-as-successful-with-22m-transacted\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BIS marks CBDC pilot as &#8216;successful&#8217; with $22M transacted &#8220; A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked \u201csuccessful\u201d by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions. The central banks of Hong Kong, Thailand, China and the United&#8230;<\/p>\n","protected":false},"author":1,"featured_media":496561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvODI2ODc1M2QtODE1Yy00YTcyLWJkY2QtNDlhZmU5ODQzYzFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75062,74894,75046,75022,77146,25196,4973,43256,25460,71469],"class_list":["post-496560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bis","tag-blockchain","tag-cbdc","tag-central-bank","tag-uae","tag-asia","tag-china","tag-hong-kong","tag-middle-east","tag-thailand"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/496560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=496560"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/496560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/496561"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=496560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=496560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=496560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}