BASEL, Switzerland—The Bank of International Settlements has concluded its CBDC pilot and said that decentralized finance elements could bring about a “new generation” of financial market infrastructure.
]The CBDC pilot was called Project Mariana.
“The project had seen the BIS test cross-border trading of CBDCs across varying financial institutions,” Watcher Guru reported. “Moreover, the project utilized innovative technology that had been obtained from the DeFi sector. Subsequently, it has led to the organization’s perspective on its future importance.”
The BIS said in a statement, “DeFi element tested in the project, specifically automated market maker, could form the basis for a new generation of financial market infrastructures.”
Other Findings
The study identified whether or not automated market makers could aid in foreign trading and settlements, and if they could increase efficiency and reduce risk, according to the report.
“The project sufficiently demonstrated that it is feasible to exchange wholesale CBDC across borders using novel concepts such as automated market makers,” the report noted.
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