Project Dunbar - International settlements using multi-CBDCs

Project led by the BIS Innovation Hub in partnership with the Reserve Bank of Australia, Central Bank of Malaysia, Monetary Authority of Singapore, and South African Reserve Bank

Project Dunbar explores how a common platform for multiple central bank digital currencies (multi-CBDCs) could enable cheaper, faster and safer cross-border payments. It identified challenges of implementing a multi-CBDC platform shared across central banks and proposed practical design approaches to address them. These design approaches were validated through the successful development of technical prototypes on Corda and Partior, proving that the concept of multi-CBDCs was technically viable.