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Swiss and French Central Banks Meet for CBDC Project


The Bank for International Settlements (BIS) Innovation Center announced today that they are collaborating with the central banks of France and Switzerland on a central bank digital currency experiment for cross-border settlements.

The Bank for International Settlements (BIS) Innovation Center announced today that they are collaborating with the central banks of France and Switzerland on a central bank digital currency experiment for cross-border settlements.

The initiative, called Project Jura, will include a private sector consortium led by Accenture with participation from Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS. According to a statement, Project Jura aims to explore cross-border agreement with CBDC or wCBDC and a French digital financial instrument on a distributed ledger technology platform. The experiment will include “the clearing of the financial instrument against a euro-based wCBDC through a payment-versus-payment settlement mechanism and a swap of one euro-based wCBDC against a Swiss franc wCBDC through a payment-versus-payment settlement mechanism.”

Benoit Cœure, head of the BIS Innovation Center, said:

“The G20 has made increasing cross-border payments a priority and has outlined a multi-year roadmap to coordinate efforts. The experiment adds to this work by exploring how wCBDC can increase speed, efficiency, and transparency in cross-border use cases.”

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