The Multi-CBDC Bridge (mBridge) project, a joint initiative primarily involving the Bank for International Settlements (BIS) Innovation Hub and several Asian and Middle Eastern central banks, has achieved a critical operational milestone, surpassing $55 billion in cumulative cross-border payment value. This landmark figure underscores the project’s growing efficacy in delivering instant, secure, and low-cost settlements using central bank digital currencies (CBDCs).
Spearheaded largely by the People’s Bank of China (PBoC), alongside the Bank of Thailand, the Hong Kong Monetary Authority, and the Central Bank of the UAE, mBridge is transitioning from a pilot phase toward Minimum Viable Product (MVP) readiness. The platform has reportedly facilitated over 280,000 transactions involving approximately 1,500 financial institutions and corporate participants across the network.
China’s substantial role in the initiative is viewed as a strategic push to internationalize the digital yuan and establish alternative payment rails that bypass traditional Western financial messaging systems like SWIFT. By demonstrating the scalability and security of a multi-CBDC platform, mBridge is positioning itself as a potential successor to the slow and expensive correspondent banking model, significantly enhancing trade efficiency and solidifying the participating nations’ leadership in financial innovation.
Source: China-led CBDC project mBridge tops $55B in cross-border payments
コメント