Major Asian banks unite to form ‘multiple’ CBDC pact on blockchain

23 Feb 2021

Major Asian banks unite to form ‘multiple’ CBDC pact on blockchain

Major Asian banks unite to form ‘multiple’ CBDC pact on blockchain Several major banks across Asia have joined forces to construct a cross-border central bank digital currency, according to a joint announcement issued on Feb. 23.Dubbed the Multiple Central Bank Digital Currency Bridge — or m-CBDC — the project sees the Hong Kong Monetary Authority, the Bank of Thailand, the Central Bank of the United Arab Emirates, and the Digital Currency Institute of the People's Bank of China combine to create a CBDC prototype using distributed ledger technology.

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