A number of central banks are joining forces to develop a prototype platform for cross-border transactions, using multiple central bank digital currencies, so-called CBDCs. The banks involved in this includethe Bank for International Settlements Innovation Hub, the Reserve Bank of Australia, the Monetary Authority of Singapore and the South African Reserve Bank. To tell us more about this initiative and its implications if the experiment takes off, I’m joined on the line by Deputy Governor, Rashad Cassim.
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