Overview of domestic and cross-border interoperability CBDC projects TAB L E 8 Name Countries Cross-border/ domestic Use case Description Multiple CBDC Bridge (mBridge) Thailand, China, Hong Kong, United Arab Emirates Cross-border Wholesale Aims to create a multiple CBDC arrangement for a faster, cheaper and more efficient mechanism for transfers and foreign exchange operations. Project Dunbar Australia, Singapore, Malaysia, South Africa Cross-border Wholesale A platform for international settlements. As of March 2022, the project built two successful prototypes for settlements across multiple CBDCs. Project Sela Israel, Hong Kong Cross-border Retail Explores the cybersecurity implications of two-tier, retail CBDC. Project Icebreaker Israel, Norway, Sweden Cross-border Retail Interlinking and interoperability between different retail CBDCs. Project Mariana France, Switzerland, Singapore Cross-border Wholesale Cross-border automated market maker project aimed at exploring using automated market makers to facilitate exchange between multiple currencies at a wholesale level. Project Jura France, Switzerland Cross-border Wholesale Wholesale CBDC settlement across borders using DLT Onyx/Multiple CBDC France, Singapore Cross-border Wholesale Cross-border payment experiment using JP Morgan’s Onyx unit. Project Rosalind United Kingdom Domestic Retail Prototype for retail CBDC effectively communicating with private sector vendors. Project Aurum Hong Kong Domestic Retail and Wholesale Issuance of both wholesale and retail tokens. Project Helvetia Switzerland Domestic Wholesale Explored the feasibility of issuing wholesale CBDC on SIX’s DLT platform, the project integrated wCBDC to the core banking infrastructure. Project Jasper Canada, UK, Singapore Cross-border Wholesale Cross-border testing Project Aber Saudi Arabia, United Arab Emirates Cross-border Wholesale Bilateral CBDC project using DLT to facilitate cross-border transactions. Source: “Central Bank Digital Currency Tracker”, Atlantic Council, n.d., https://www.atlanticcouncil.org/cbdctracker/. Central Bank Digital Currency Global Interoperability Principles 22
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