Cryptocurrency News

CBDCs can cut cross border remittance costs by half: BIS report


CBDCs can cut cross border remittance costs by half: BIS report

The Bank for International Settlements (BIS) has published a report touting the benefits of central bank digital currencies (CBDC), especially in reducing the cost of cross-border payments.

According to the report titled “Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments” published on Tuesday, CBDCs can reduce the transaction throughput of cross-border payments from three to five business days to only a few seconds.

Source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Become a Millionaire by Trading Crypto!