Project mBridge: Real-Value Transactions on a Cross-border CBDC Platform
Thursday 23rd February 2023
Cross-border payments are traditionally slow, expensive and opaque. So, how is the Bank for International Settlements proposing to overcome these challenges through a multi-CBDC platform based on DLT technology?
In session 14 of FNA’s monthly webinar series, The CBDC Broadcast, guests Daniel Eidan (Bank for International Settlements) and Ousmène Mandeng (Accenture) joined FNA to discuss Project mBridge, which aims to solve the challenges associated with cross-border payments through a CBDC platform based on new blockchain technology.
The platform aims to facilitate cheap, real-time peer-to-peer cross-border payments and foreign exchange transactions using multiple CBDCs while ensuring compliance with regulations set by each jurisdiction.
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The session covered:
- The key objectives of the Project mBridge pilot and how they were achieved
- Accenture’s role in the development and implementation of Project mBridge, and the expertise offered
- How Project mBridge, and the expertise offered
- How mBridge works and how the clearing and settlement of assets take place
- The customary blockchain developed by central banks for central banks forms the basis of the Bridge platform
- The results of the Project mBridge pilot in terms of transaction volume, speed, and cost-effectiveness and how they compare with existing cross-border payment and settlement solutions
- How Project mBridge handle cross-border regulatory compliance and ensure that all participants are following relevant laws and regulations
Session #14 Guests
 | Daniel Eidan Advisor/ Solution Architect, Bank for International Settlements
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 | Ousmène Jacques Mandeng Senior Advisor, Global Blockchain Technology, Accenture
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Missed our previous sessions? Watch the series on-demand
 | 23rd February 2023 Project mBridge: Real-Value Transactions through a Cross-border CBDC Platform With: Daniel Eidan (Bank for International Settlements) & Ousmène Jacques Mendang (Accenture)
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 | 12th January 2023 Digital Currencies: Coexistence or Competition With: Catherine Gu (Visa) & Carmelle Cadet (EMTECH)
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 | 8th December 2022 CBDC Interoperability in Cross-border payments With: John Kiff (Satoshi Capital Advisors) & Simon Chantry (Bitt)
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 | 17th November 2022 CBDC Interoperability, Benefits and Implications- A U.S. Perspective With: Commissioner Hester M. Peirce (The U.S Securities and Exchange Commission) & Patrick McCarty (Georgetown University)
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 | 5th October 2022 Gaining Momentum: Options for access to and interoperability of CBDCs worldwide With: Anneke Kosse & Illaria Mattei (Bank for International Settlements)
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 | 29th September 2022 What CBDC features will drive consumers’ and merchants’ adoption? With: John Velissarios (Accenture) & Raoul Herborg (G+D)
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 | 10th August 2022 Aligning Technology and Policy: The Oliver Wyman Forum and Amazon Web Services (AWS) Report With: Larissa de Lima (Oliver Wyman Forum) & Erica Salinas (Amazon Web Services)
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 | 20th July 2022 CBDC Motivations and Challenges – A Perspective from Asia-Pacific With: Masaki Bessho (Bank of Japan) & Dr Steven Hu (Standard Chartered Bank)
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 | 30th June 2022 Central Banks and Private Money: The Past, Present and Future With: John Kiff (Satoshi Capital Advisors) & Harish Natarajan (The World Bank)
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 | 18th May 2022 CBDC Motivations and Challenges – A Perspective from Latin America With: Ludmilla Butueau Allien (Bank of the Republic of Haiti) & Dr Adolfo Sarmiento (Central Bank of Uruguay) |
 | 28th April 2022 CBDC Motivations and Challenges- A Perspective from the UK & Canada With: Dr Francisco Rivadeneyra (Bank of Canada) & Mehregan Ameri (Bank of England) |
 | 16th March 2022 HSBC & IBM’s Joint CBDC Project With: Mark Williamson (HSBC) & Soren Mortensen (IBM) |
 | 15th February 2022 Critical policy issues & Lessons Learned from UK and China With: Jean-Michel Godeffroy (JMG Consulting) & Keith Bear (University of Cambridge) |
 | 11th January 2022 Quantifying the Impact of CBDCs With: Dr Kimmo Soramäki (FNA) & Dr Carlos León (FNA) |