The multilateral CBDC bridge project mBridge, jointly built by the central bank, the Hong Kong Monetary Authority, and others, has made positive progress

ChainCatcher news, the multilateral central bank digital currency bridge (mBridge) project jointly built by the Bank for International Settlements (Hong Kong) Innovation Hub, the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Research Institute of the People's Bank of China, and the Central Bank of the United Arab Emirates has made positive progress.

According to the report "The Currency Bridge Project: Central Bank Digital Currencies Facilitating Economic Integration" jointly released by the Bank for International Settlements (BIS) and others, the multilateral central bank digital currency bridge project has successfully completed its first real transaction pilot based on four central bank digital currencies. Within six weeks, 20 commercial banks from four different jurisdictions completed a total of 164 cross-border remittance and foreign exchange transactions for their clients through the currency bridge platform, amounting to over 150 million yuan (approximately) in total. (Source link)