{"id":80968,"date":"2023-06-29T16:50:49","date_gmt":"2023-06-29T13:50:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80968"},"modified":"2025-09-11T20:08:46","modified_gmt":"2025-09-11T17:08:46","slug":"central-banks-test-curve-amm-technologies-for-cbdcs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/central-banks-test-curve-amm-technologies-for-cbdcs\/","title":{"rendered":"Central banks test Curve AMM technologies for CBDCs"},"content":{"rendered":"<p>The BIS Innovation Hub, in collaboration with the central banks of France, Switzerland and Singapore, conducted tests of Curve v2 hybrid function<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\"> automated market maker<\/a> for operations in wholesale<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\"> CBDC<\/a> pools.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/11 Project Mariana, a collaboration between the BIS Innovation Hub, Bank of France, Monetary Authority of Singapore, and Swiss National Bank, is exploring the use of <a href=\"https:\/\/twitter.com\/CurveFinance?ref_src=twsrc%5Etfw\">@CurveFinance<\/a>&#8216; Curve v2 HFMM for on-chain wholesale CBDC pools.<\/p>\n<p>Truly a milestone for TradFi x DeFi innovation <a href=\"https:\/\/t.co\/IbUCLvxPmN\">pic.twitter.com\/IbUCLvxPmN<\/a><\/p>\n<p>\u2014 knows ?? (@evmknows) <a href=\"https:\/\/twitter.com\/evmknows\/status\/1674034795662155777?ref_src=twsrc%5Etfw\">June 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative is being carried out as part of Project Mariana. It marks an important milestone in the integration of TradFi and DeFi, participants noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe choice fell on Curve v2 [and its HFMM] solely for experimental purposes. This does not reflect an endorsement of the protocol or any of its products,\u201d<\/em> the document states.<\/p>\n<\/blockquote>\n<p>Liquidity pools and the bonding curve are integral parts of the proposed AMM design, the document says.<\/p>\n<p>As part of the project, the parties examined issues related to credit and settlement risks, as well as functional compatibility in trading tokenized foreign currencies.<\/p>\n<p>In the initiative, the AMM, token standards and bridges were tested. They are expected to underpin an international interbank market for foreign exchange using wholesale CBDCs on the blockchain. Participants stressed the need to develop technical specifications.<\/p>\n<p>In the liquidity pool model, commercial banks form the pools \u2014 they act as customers for issuing and redeeming CBDCs, as well as their suppliers.<\/p>\n<p>Central banks act as managers of wholesale national currencies&#8217; issuance and as bridge operators. They also oversee \u201cwhite lists\u201d for platform access.<\/p>\n<p>Project Mariana was launched in November 2022. A final report will be published by the end of this year.<\/p>\n<p>In June, <span data-descr=\"Monetary Authority of Singapore\" class=\"old_tooltip\">MAS<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/singapores-central-bank-reviews-tokenisation-and-defi-protocols\">presented<\/a> a report summarising BIS&#8217;s work on Project Guardian. The initiative aims to study the alignment of tokenization and DeFi with international standards.<\/p>\n<p>Earlier BIS experts <a href=\"https:\/\/forklog.com\/en\/news\/bis-cryptocurrencies-are-a-mistaken-path-to-tokenisation\">described<\/a> tokenization based on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDCs<\/a> as the future of the global financial system, and cryptocurrencies as a misguided branch of this process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BIS Innovation Hub, in collaboration with the central banks of France, Switzerland and Singapore, conducted tests of Curve v2 hybrid function{{AOPEN_1}} automated market maker{{ACLOSE_1}} for operations in wholesale CBDC pools.<\/p>\n","protected":false},"author":1,"featured_media":80969,"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":[1282,1229,1430,1095,1093],"class_list":["post-80968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-banks-and-fintech","tag-bis","tag-cbdc","tag-defi"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80968","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=80968"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80968\/revisions"}],"predecessor-version":[{"id":80970,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80968\/revisions\/80970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80969"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}