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MAS and Banque de France explore cross-border transactions in CBDC experiment

Atiqah Mokhtar
Atiqah Mokhtar7/8/2021 4:33 PM GMT+08  • 3 min read
MAS and Banque de France explore cross-border transactions in CBDC experiment
The experiment, supported by JP Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs on a common network.
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The Monetary Authority of Singapore (MAS) and Banque de France (BdF) have on July 8 announced the completion of a wholesale cross-border payment and settlement experiment using central bank digital currency (CBDC).

The experiment, supported by JP Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs (mCBDC) on a common network between Singapore and France.

This is the first m-CBDC experiment that applied automated market making and liquidity management capabilities to reap cross-border payment and settlement efficiencies.

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