Multiple Choice Questions on Which institution is leading the cross border CBDC project undertaken by Central banks in Australia ........... for General Knowledge ( All Exams) Preparation

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Multiple Choice Questions

Which institution is leading the cross border CBDC project undertaken by Central banks in Australia ...........

Current GK ( Master) International Affairs
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    Which institution is leading the cross-border CBDC project, undertaken by Central banks in Australia, Singapore, Malaysia and South Africa?

    IMF

    Incorrect Answer

    BIS

    Correct Answer

    World Bank

    Incorrect Answer

    BRICS Bank

    Incorrect Answer
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    Explanation:

    Correct Answer: [BIS]

    Notes:

    • The Central banks in Australia, Singapore, Malaysia and South Africa are set to conduct a cross border payments trial using different central bank digital currencies (CBDC).
    • Bank of International Settlement (BIS) Innovation Hub is leading the scheme.
    • This latest project aims to develop prototype shared platforms for cross-border transactions using multiple CBDCs
    • Another BIS-led project exploring using CBDCs for cross border payments is also underway involving central banks from China, Hong Kong, Thailand and the UAE.

    By: Brijesh Kumar
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