Using CBDCs across borders: lessons from practical experiments

BIS, Innovation Hub Other  | 
21 June 2022
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Using CBDCs across borders: lessons from practical experiments (00:15:04)

by Codruta Boar

20 Jan 2023

The BIS Innovation Hub is leading practical experiments to show how CBDCs can help deliver faster, cheaper and more transparent cross-border payments. Codruta Boar, advisor at the Innovation Hub, discusses research that she has co-authored with Morten Bech, Daniel Eidan, Philipp Haene, Henry Holden and Wee Kee Toh. 

Key takeaways

  • The BIS Innovation Hub (BISIH) is leading practical experiments to show how central bank digital currencies (CBDCs) could help deliver faster, cheaper and more transparent cross-border payments.
  • These experiments demonstrate that common systems encompassing multiple CBDCs are operationally feasible and could bring efficiencies. Yet policy, legal, governance and economic questions remain.
  • The BISIH is uniquely positioned to bring central banks together in the collaborative efforts that will be necessary to make further progress on this question.