MBridge: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
(Created page with "{lowercase}''Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.'' Project mBridge (mCBDC or m-CBDC). A multi-CBDC arrangement would be a joint agreement between countries to facilitate more efficient and lower-cost cross-border remittances, using CBDCs. For example, the ''mBridge'' or "m-CBDC Bridge" project for collaboration initiated in 2021 between China, Thailand and the United...") |
(Create page - source - BIS - https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm) |
||
| Line 1: | Line 1: | ||
{lowercase}''Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.'' | {{lowercase}}''Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.'' | ||
Project mBridge | Project mBridge is an exploration of a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks. | ||
It was initiated in 2021 as a collaboration between China, Thailand and the United Arab Emirates, originally named the "m-CBDC Bridge" project. | |||
( | :<span style="color:#4B0082">'''''Significant potential to improve cross-border payments'''''</span> | ||
:"Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach... | |||
:The Saudi Central Bank is joining mBridge as a full participant. There are also now more than 26 observing members. | |||
:The project aims to tackle some of the key inefficiencies in cross-border payments, including high costs, low speed and operational complexities. | |||
:It also addresses financial inclusion concerns, particularly in jurisdictions where correspondent banking (which connects countries to the global financial system) has been in retreat, causing additional costs and delays. | |||
:Multi-CBDC arrangements that connect different jurisdictions in a single common technical infrastructure offer significant potential to improve the current system and allow cross-border payments to be immediate, cheap and universally accessible with final settlement." | |||
:''Project mBridge reaches minimum viable product stage and invites further international participation - BIS - June 2024.'' | |||
== See also == | == See also == | ||
* [[Bank for International Settlements]] (BIS) | |||
* [[Cash management]] | |||
* [[Central bank]] | * [[Central bank]] | ||
* [[Central bank digital currency]] | * [[Central bank digital currency]] (CBDC) | ||
* [[ | * [[Correspondent bank]] | ||
* [[Currency]] | * [[Currency]] | ||
* [[Digital currency]] | * [[Digital currency]] | ||
| Line 24: | Line 35: | ||
* [[e-money]] | * [[e-money]] | ||
* [[Fiat currency]] | * [[Fiat currency]] | ||
* [[Financial inclusion]] | |||
* [[Infrastructure]] | |||
* [[Jurisdiction]] | |||
* [[Libra]] | * [[Libra]] | ||
* [[Minimum viable product]] (MVP) | |||
* [[Money]] | * [[Money]] | ||
* [[Multi-CBDC arrangement]] | * [[Multi-CBDC arrangement]] | ||
* [[Platform]] | |||
* [[Sand Dollar]] | * [[Sand Dollar]] | ||
* [[Settlement]] | |||
* [[Treasury]] | |||
==Other resource== | |||
*[https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm Project mBridge reaches minimum viable product stage and invites further international participation - June 2024] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Financial_risk_management]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:The_business_context]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 22:24, 24 July 2024
Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.
Project mBridge is an exploration of a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks.
It was initiated in 2021 as a collaboration between China, Thailand and the United Arab Emirates, originally named the "m-CBDC Bridge" project.
- Significant potential to improve cross-border payments
- "Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach...
- The Saudi Central Bank is joining mBridge as a full participant. There are also now more than 26 observing members.
- The project aims to tackle some of the key inefficiencies in cross-border payments, including high costs, low speed and operational complexities.
- It also addresses financial inclusion concerns, particularly in jurisdictions where correspondent banking (which connects countries to the global financial system) has been in retreat, causing additional costs and delays.
- Multi-CBDC arrangements that connect different jurisdictions in a single common technical infrastructure offer significant potential to improve the current system and allow cross-border payments to be immediate, cheap and universally accessible with final settlement."
- Project mBridge reaches minimum viable product stage and invites further international participation - BIS - June 2024.
See also
- Bank for International Settlements (BIS)
- Cash management
- Central bank
- Central bank digital currency (CBDC)
- Correspondent bank
- Currency
- Digital currency
- Distributed ledger
- e-krona
- e-money
- Fiat currency
- Financial inclusion
- Infrastructure
- Jurisdiction
- Libra
- Minimum viable product (MVP)
- Money
- Multi-CBDC arrangement
- Platform
- Sand Dollar
- Settlement
- Treasury
