BIS develops cross-border retail CBDC payment system

A cross-border system connecting central bank digital currencies could allow for cheaper and safer global payments, according to a report published by the Bank of International Settlements on Monday. 

The Basel-based bank for central banks’ Innovation Hub, in cooperation with the central banks of Israel, Norway and Sweden, has wrapped up “Project Icebreaker” to find solutions for DLT-based cross-border transactions.

Read more: The Block