Central banks are focusing on domestic CBDC use, even though the implications go beyond borders.
Running on JPMorgan’s Onyx blockchain, it was the first cross-border CBDC transaction to use automated-market-making smart contracts.
The bank plans to expand the trial between September and December.
One central bank official says the future "will undoubtedly involve less cash."
“This experiment made it possible to test the integration of issuance and settlement activities, including exchanges on the secondary market,” said the Bank of France.
The official also said more details on the CBDC's design may kick up a debate on how its issuance could impact financial institutions.
The Ukrainian legislation now lists the future central bank digital currency as a kind of money similar to cash or bank accounts.
A Federal Reserve official praised stablecoins over CBDCs, yesterday. The debate cuts right to role of government in money.
The Monetary Authority of Singapore’s “Global CBDC Challenge” will be supported by Amazon Web Services, Mastercard, Hyperledger and others.
The Swiss National Bank tested the feasibility of CBDCs in 2020.
Palestinians do not have an independent currency, and rely on the Israeli shekel and Jordanian dinar.
The official said he is not optimistic about an Israeli CBDC being launched.