The Multinational Central Bank Digital Currency Bridge (mCBDC Bridge) project releases the latest progress joint report

According to ChainCatcher news, the latest progress joint report "Project mBridge: Connecting economies through CBDC" has been released by the multilateral central bank digital currency bridge (mCBDC Bridge) project, jointly collaborated by the Bank for International Settlements (Hong Kong) Innovation Hub, the Hong Kong Monetary Authority, the Bank of Thailand, the Central Bank of the UAE, and the Digital Currency Research Institute of the People's Bank of China. After trying different technical architectures in the early stages of the project, the project team developed a new blockchain—mBridge Ledger. Over a six-week period in 2022, the mBridge platform was tested through a pilot involving actual value transactions among 20 commercial banks across four different jurisdictions. This pilot advanced the multi-CBDC experiment by settling actual value directly on the platform on behalf of corporate clients. The platform issued over $12 million, facilitating more than 160 payment and foreign exchange PvP transactions, with a total value exceeding $22 million. (Source link)