Friday, 24 March, 2023

Banks of Aus, Malaysia, SG, SA begin cross border digital payment testing

<p>Banks of Australia, Malaysia, Singapore, and South Africa are conducting trials using Central Bank Digital Currencies which are existing currencies in the digital form, with blockchain at their core. Led by Bank for International Settlements, the trial aims to make cross-border payments simple by eliminating the need for intermediaries. The project will publish its findings in early 2022. If successful, CBDC makes cross-border payments easier and less expensive.<br /> &nbsp;</p>