Bank Negara, BIS and central banks of Australia, Singapore and South Africa develop experimental multi-CBDC platform

KUALA LUMPUR: Bank Negara Malaysia (BNM) along with three other central banks and The Bank for International Settlements (BIS) Innovation Hub, has completed prototypes for a common platform enabling international settlements using multiple central bank digital currencies (mCBDCs).

Led by the Innovation Hub’s Singapore Centre, Project Dunbar proved that financial institutions could use CBDCs issued by participating central banks to transact directly with each other on a shared platform.