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.
00:15:04
Podcast
20 Jan 2023
Using CBDCs across borders: lessons from practical experiments
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.