CBDCs can cut cross border remittance costs by half: BIS report By

The Bank for International Settlements (BIS) has published a report touting the benefits of central bank digital currencies (CBDC), especially in reducing the cost of cross-border payments.

According to the report titled “Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments” published on Tuesday, CBDCs can reduce the transaction throughput of cross-border payments from three to five business days to only a few seconds.

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