As BIS Mulls Shutting Down mBridge, Its Innovation Hub Calls The Project a ‘Public Good’

Coindesk
29 Oct 2024
  • An international payments project backed by China, the UAE, Thailand and Hong Kong is raising concerns in Washington.
  • mBridge uses decentralized ledger technology to make quicker payments that bypass intermediary banks.

The future of the Swiss-based Bank for International Settlements’ (BIS) involvement in mBridge was cast into doubt on Oct 28. following a report from Bloomberg that top bank officials and financial executives discussed the possibility of shutting mBridge down during a meeting in Washington.

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