Bank for International Settlements (BIS) releases details of planned cross-border payments proof of concept (POC)

Bank for International Settlements (BIS) releases details of planned cross-border payments proof of concept (POC)

Bank for International Settlements (BIS) releases details of planned cross-border payments proof of concept (POC)

The BIS Innovation Hub has released an interim report on Project Rialto, a groundbreaking initiative aimed at transforming the $800 billion retail cross-border payments market. In collaboration with central banks from France, Italy, Malaysia, and Singapore, the project seeks to develop a POC that combines instant payment systems with tokenised central bank money settlement.

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