BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project report

BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project report



Project Mariana utilizes an automated market maker to minimize settlement risk and establish a liquidity pool instead of relying on order books.



The Bank for International Settlements (BIS) Innovation Hub, in collaboration with the central banks of France, Singapore, and Switzerland, has published an interim report on Project Mariana. The project focuses on the use of wholesale central bank digital currency (wCBDC) in tokenized foreign exchange trading. It serves as a proof-of-concept to address concerns regarding credit, settlement risk, and interoperability.



Specifically, the project explores the feasibility of an international FX interbank market using wCBDCs on a blockchain-based network by examining automated market makers (AMMs), token standards, and network bridges.



AMMs are smart contracts used in decentralized finance


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