Project Jura - Cross-border settlement using wholesale CBDC

Joint report by the BIS Innovation Hub, Bank of France and Swiss National Bank

BIS, Innovation Hub Other  | 
08 December 2021

Jura explores the direct transfer of euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms. The experiment is conducted in a near-real setting, using real-value transactions and complying with current regulatory requirements.