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China-led CBDC project mBridge tops $55B in cross-border payments
18.1.2026
In 2024, the Bank for International Settlements stepped back from mBridge, seeking to distance itself from sanctions-related speculation surrounding the platform
Central banks favor legacy instant payment systems over CBDCs
29.11.2024
TradFi looks safe on the international payments market for the foreseeable future, despite advances in blockchain solutions
BIS Drops Mbridge Project Participation: It Was ‘Not Created to Serve the BRICS’
1.11.2024
The BIS announced it was abandoning Mbridge, a project aimed at using CBDCs to interconnect the financial systems of several countries, due to its potential to help BRICS nations sidestep economic sanctions. BIS Abandons Mbridge Project for Potential BRICS Sanctions-Evading Applications The Bank...
BIS distances from Project mBridge amid BRICS sanctions concerns
31.10.2024
Economic sanctions have a profound effect on international financial architecture, it turns out
BIS distances from Project mBridge amid BRICS sanctions concerns
31.10.2024
Economic sanctions have a profound effect on international financial architecture, it turns out
BIS Considers Ending Mbridge Project Over BRICS Connections, but Is It Too Late?
30.10.2024
While conversations about ending the CBDC-enabled international settlements project have focused on its links to BRICS, Mbridge has already reached the MVP stage, and members could choose to continue it without support from the BIS. BIS Considers Ending Mbridge Project, BRICS Countries Could Use...
As BIS Mulls Shutting Down mBridge, Its Innovation Hub Calls The Project a ‘Public Good’
29.10.2024
An international payments project backed by China, the UAE, Thailand and Hong Kong is raising concerns in Washington
Global Finance Faces a Shift as Mbridge Digital Currency Platform Challenges US Dollar
24.10.2024
The People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape...
BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says
26.9.2024
BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s...
Tencent Tests Use Cases for Trading Settlements Using Digital Yuan and Mbridge
25.6.2024
Tencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using Mbridge, a CBDC-enabled cross-borders settlement platform. Tencent participated through its international settlements arm Tenpay, which piloted the use case of...
Analyst: Bank of Thailand Boosts Gold Reserves to Push De-Dollarized Trading System Fueled by CBDC
19.6.2024
The Bank of Thailand might be increasing its gold reserves to power a de-dollarized trading system, according to Jan Nieuwenhuijs, a gold market analyst. Nieuwenhuijs states that the Bank of Thailand’s constant gold purchases might indicate the nation is preparing to address the possible...
Russian State Duma Official: International CBDC Settlements to Become ‘Common Practice’ in 5 Years
7.6.2024
Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this...
Cross Border CBDC Project Mbridge Enters MVP Stage
7.6.2024
Project Mbridge, the cross-border central bank digital currency (CBDC) project that seeks to integrate several currencies into a global network, has reached its minimum viable product stage. This means that each one of the participant central banks has deployed a validating node in the network...
Saudi Arabia Joins BIS’ CBDC Project mBridge as a Full Participant
6.6.2024
Private firms to join global central bank CBDC project
5.6.2024
As Project mBridge enters its MVP phase, BIS is inviting private sector firms to propose new solutions and use cases to further develop and showcase the platform's potential
SWIFT Plans to Launch CBDC Interconnection System in Next Two Years
29.3.2024
SWIFT, the network that provides the messaging system for cross-border banking settlements, has announced plans to launch a CBDC equivalent of its current network in the next two years. The organization recently completed a 6-month test to assess the viability of such a development, which included...
Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through
3.2.2024
The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million...
UAE Central Bank Completes First Cross-Border Digital Dirham Transfer Using mBridge CBDC Platform
30.1.2024
The Central Bank of the United Arab Emirates (UAE) achieved a significant milestone by conducting its inaugural cross-border digital dirham transfer using the mBridge central bank digital currency (CBDC) platform on January 29. The transaction involved the transfer of 50 million digital dirhams...
Project mBridge reveals details of its workings ahead of MVP, commercial debut
31.10.2023
Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is
A SWIFT Shakeup: Yuan Dethrones Euro as Runner-Up in Trade Finance Markets
20.10.2023
The latest report published by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) has revealed that the Chinese yuan overtook the euro as the second most used currency in trade finance markets. However, the dollar is still comfortably in first place, with more than an...