BIS, Australia, Malaysia, Singapore and South Africa will test CBDCs for cross-border payments.

Golden Financial announced that the Financial Institutions Innovation Agency for the International Conference (BIS) is working with central banks in Australia, Malaysia, Singapore and South Africa to measure the performance of wholesale digital currencies central banks (CBDCs) in cross-border payments. The bank said Thursday that the goal of "Project Dunbar" was to develop a model that could support the digital advantages offered by several banks in the medium term for payments around the world. According to the report, the project will focus on designing these models of various technological subdivisions and test various management and design functions to enable central banks to introduce CBDC infrastructure. (Parts office)