Project Jura

Project Jura attempts a new approach to cross-border settlements with wholesale central bank digital currencies (wCBDC), expanding on experiments conducted by central banks. The project will test innovative interoperability protocols and novel arrangements for affording central banks individual controls on a DLT platform.

The experiment will include cross-border settlement with two wCBDCs and a French digital financial instrument on a distributed ledger technology (DLT) platform. It will involve the exchange of the financial instrument against a euro wCBDC through a delivery versus payment (DvP) settlement mechanism and the exchange of a euro wCBDC against a Swiss franc wCBDC through a payment versus payment (PvP) settlement mechanism. These transactions will be settled between banks domiciled in France and in Switzerland, respectively. 

The BIS Innovation Hub, the Bank of France and the Swiss National Bank will conduct Project Jura together with a private sector consortium led by Accenture. The private sector consortium includes Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS. Project Jura is part of a series of wCBDC experimentations conducted by the Banque de France and it builds on Project Helvetia conducted by the BIS Innovation Hub jointly with Swiss National Bank and SIX Digital Exchange.