mBridge
A multi-CBDC platform for cross-border payments using blockchain.
What is mBridge?
mBridge, involving BIS and central banks like PBC, enables real-time settlements, reaching MVP in 2024 with costs halved and times reduced to seconds. By 2025, China’s phase includes non-state banks, processing over $50 million in pilots.
It uses Lego Bricks modular design for FX, AML, and compliance, avoiding currency substitution. In digital assets, it tests wholesale CBDCs for efficient global trade, with 13 similar projects worldwide.
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