Multi-CBDC and International Settlements: The Next Stage of CBDC Experiments

Digital Currency Series (Part 3): Multi-CBDC and International Settlements: The Next Stage of CBDC Experiments | The Green Shoots Series 2021

International settlement on a common platform could make cross-border payments as cheap and efficient as domestic payments today. This vision of a common settlement platform has been discussed for decades, but governance of a shared platform has always been a stumbling block.

Could decentralised technologies and CBDCs create a path forward for central banks to operate a shared platform for transactions in multiple currencies? Is the vision of Project Dunbar for multi-CBDCs a viable model for such a platform? What are the pragmatic next steps that the central banking community must take to make this a reality, and will this change the future of banking and payments?

Speakers:
Chris Thompson, Deputy Head of Payments Policy, Reserve Bank of Australia
Fraziali Ismail, Assistant Governor, Bank Negara Malaysia
Herco Steyn, Acting Divisional Head of FinTech Unit, South African Reserve Bank
Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore
Moderator: Andrew McCormack, Centre Head, BIS Innovation Hub Singapore