JERUSALEM—Central banks in Israel, Norway and Sweden will team with the Bank of International Settlements (BIS) to explore how CBDCs can be exploited for international retail and remittance payments.
With BIS playing a key role in the G20 program, it has now brought in the Bank of Israel, Central Bank of Norway, Sveriges Riksbank and its own Innovation Hub Nordic Centre for Project Icebreaker—the name for the project, according to Finextra.com.
Project Icebreaker will last until the end of 2022 and will develop a “hub” to which participating central banks will connect their domestic proof-of-concept CBDC systems, Finextra said.
The objective of the project is to test some specific key functions and the technological feasibility of interlinking different domestic CBDC systems, the report stated.
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