The findings come from the multiple CBDC bridge project (mBridge). It combines the monetary authorities of Hong Kong, Thailand, China and the United Arab Emirates.
mBridge group members created a prototype which it says can reduce the time for international transfers to seconds, compared to days using traditional correspondent banking networks.
The prototype is built on the Ethereum Hyperledger Besu blockchain. Participants will now work to develop a production-ready digital currency solution, according to the BIS report.
