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The currency bridge will be fully developed and operated by participating central banks and monetary authorities

ChainCatcher news, according to the Securities Times, the Multilateral Central Bank Digital Currency Bridge Steering Committee has issued a statement on promoting the sustainable operation of the currency bridge project, stating that the multilateral central bank digital currency bridge project will be fully taken over by the participating central banks and monetary authorities for continuous development and operation. The currency bridge project team (hereinafter referred to as the "project team") will make every effort to advance the project from the Minimum Viable Product (MVP) stage to full production.Agustín Carstens, General Manager of the Bank for International Settlements (BIS), recently announced that the preliminary exploratory work of the currency bridge project has been completed, and the project has reached a maturity level that can be handed over to the participating parties. BIS has been involved in the currency bridge project for four years, collaborating with several central bank partners and numerous observer members. "This project has been successful enough that we can announce it is ready to graduate from BIS," Carstens said.The Multilateral Central Bank Digital Currency Bridge Steering Committee pointed out in the statement that the project team has successfully advanced the currency bridge project to the sustainable operation of the Minimum Viable Product (MVP) stage and established a sound governance structure and legal framework. Since the project's launch, BIS has provided strong support. Now, the currency bridge project will be fully taken over by the participating central banks and monetary authorities for continuous development and operation, allowing BIS to allocate resources to other early-stage innovative projects.
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