The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the technical feasibility of conducting cross-border – cross-currency transactions between different [distrubuted ledger technology]-based CBDC proof of concepts.” Technical Feasibility of Cross-Border Retail CBDC Payments Reportedly Proven in Project Icebreaker Trial Central bank digital currencies (CBDCs) have been a key focus for the Bank for International Settlements (BIS) in recent times. BIS recently published a report asserting that most crypto asset investors lost money over the past seven years. The report highlighted BIS insisting there’s an urgent need for regulating the crypto industry and developing a CBDC. Following the report, BIS general manager Agustin Carstens stated that crypt
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