#14: Project mBridge: Real-Value Transactions on a Cross-border CBDC Platform

CBDC Broadcast

7 Feb

22nd February 2023

With:

| Daniel Eidan (Bank for International Settlements

| Ousmène Jacques Mandeng (Accenture)

In this session, Daniel Eidan (BIS) and Ousmène Jacques Mandeng (Accenture) join FNA to break down the mechanics of Project mBridge. As cross-border payments struggle with high costs and 3-5 day settlement windows, mBridge introduces a custom-built, decentralized ledger that allows central banks to issue and exchange their own digital currencies directly.

The platform eliminates the need for multiple intermediaries by enabling atomic, peer-to-peer settlement. Our guests discuss the results of the massive 2022 pilot—which has since scaled to process over $55 billion in transactions by early 2026—and explain how the "mBridge Ledger" maintains sovereign control while ensuring real-time regulatory compliance across diverse jurisdictions.

Key Discussion Points:

The mBridge Ledger: Exploring the custom, permissioned DLT developed specifically "by central banks, for central banks."
Atomic Settlement: How mBridge enables real-time FX and payment finality, reducing settlement risk and capital lock-ups.
Accenture’s Technical Blueprint: Insights into the front-to-back implementation of the platform and the integration of private-sector expertise.
Scalability & Volume: Analyzing the transition from a $22 million pilot to a global infrastructure processing tens of billions in trade value.
Sovereignty & Compliance: How the platform respects local laws and "do no harm" principles while facilitating international interoperability.

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