{"id":44136,"date":"2021-06-10T17:33:34","date_gmt":"2021-06-10T14:33:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44136"},"modified":"2025-08-31T15:34:13","modified_gmt":"2025-08-31T12:34:13","slug":"bis-joins-cbdc-testing-in-cross-border-settlements","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bis-joins-cbdc-testing-in-cross-border-settlements\/","title":{"rendered":"BIS joins CBDC testing in cross-border settlements"},"content":{"rendered":"<p>The BIS Innovation Hub, in collaboration with the monetary regulators of France and Switzerland, will conduct an experiment using a central bank digital currency (CBDC) in cross-border settlements.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BISInnovationHub?src=hash&#038;ref_src=twsrc%5Etfw\">#BISInnovationHub<\/a> <a href=\"https:\/\/twitter.com\/banquedefrance?ref_src=twsrc%5Etfw\">@banquedefrance<\/a> and the Swiss National Bank launch <a href=\"https:\/\/twitter.com\/hashtag\/ProjectJura?src=hash&#038;ref_src=twsrc%5Etfw\">#ProjectJura<\/a> \u2013 a collaborative experiment into wholesale <a href=\"https:\/\/twitter.com\/hashtag\/CBDC?src=hash&#038;ref_src=twsrc%5Etfw\">#CBDC<\/a> <a href=\"https:\/\/twitter.com\/SNB_BNS_en?ref_src=twsrc%5Etfw\">@SNB_BNS_en<\/a> <a href=\"https:\/\/t.co\/vtbMCSJA6i\">https:\/\/t.co\/vtbMCSJA6i<\/a> <a href=\"https:\/\/t.co\/lV7mKI7R0S\">pic.twitter.com\/lV7mKI7R0S<\/a><\/p>\n<p>\u2014 Bank for International Settlements (@BIS_org) <a href=\"https:\/\/twitter.com\/BIS_org\/status\/1402944066590019589?ref_src=twsrc%5Etfw\">June 10, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The experiment, named Project Jura, will involve the Bank of France, the Swiss National Bank, and a consortium of private organisations led by consulting firm Accenture. The latter includes Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS.<\/p>\n<p>In the first stage of testing, the euro-pegged wholesale CBDC will be exchanged for a French digital instrument on a <span data-descr=\"distributed ledger technology\" class=\"old_tooltip\">DLT<\/span>-platform in accordance with the settlement mechanism \u201cdelivery against payment.\u201d<\/p>\n<p>In the second phase, there will be an exchange between euro- and franc-pegged wholesale CBDCs. Settlements will be conducted under the <a href=\"https:\/\/www.bis.org\/cpmi\/publ\/d00b.htm?&#038;selection=50&#038;scope=CPMI&#038;c=a&#038;base=term\">\u00abpayment against payment\u00bb<\/a> mechanism.<\/p>\n<p>The operations will be processed by banks located in Switzerland and France.<\/p>\n<p>Project Jura is the continuation of the regulator&#8217;s broad French project in which <a href=\"https:\/\/www.banque-france.fr\/communiqu\u00e9-de-presse\/liste-des-candidatures-retenues-pour-les-experimentations-de-monnaie-digitale-de-banque-centrale\">participated<\/a> a number of European institutions, including Accenture, HSBC and Societe Generale.<\/p>\n<p>In January 2021, the Bank of France <a href=\"https:\/\/forklog.com\/en\/news\/bank-of-france-completes-cbdc-pilot-worth-e2-million\">successfully tested a CBDC<\/a> in a pilot project involving the issuance of tokenised shares of a currency fund worth more than \u20ac2 million.<\/p>\n<p>Earlier, the European Central Bank <a href=\"https:\/\/forklog.com\/en\/news\/ecb-flags-risks-for-central-banks-without-their-own-cbdcs\">warned of the risk to monetary sovereignty<\/a> if large tech companies issue their own digital currencies and regulators do not have versions of them.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BIS Innovation Hub, in collaboration with the monetary regulators of France and Switzerland, will conduct an experiment using a central bank digital currency in cross-border settlements.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1430,1095,134,468],"class_list":["post-44136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-cbdc","tag-france","tag-switzerland"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=44136"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44136\/revisions"}],"predecessor-version":[{"id":44137,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44136\/revisions\/44137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=44136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=44136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=44136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}