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 NY Fed and MAS publish joint CBDC cross border payment project results

NY Fed and MAS publish joint CBDC cross border payment project results


Published: 2023-05-19


1. CBDC Cross-Border Payment Project The article reports on the results of a joint project undertaken by the Federal Reserve Bank of New York and the Monetary Authority of Singapore,aimed at exploring the use of central bank digital currencies (CBDCs) for cross-border payments. The project involved the development of a prototype platform that integrated multiple CBDCs to facilitate real-time cross-border payments between Singapore and the United States. The article outlines the main findings of the project,including the potential benefits of CBDCs for cross-border payments such as increased speed,lower costs,and improved transparency.

2. Technical Aspects of the Prototype The article delves into the technical aspects of the CBDC prototype developed by the project team. It explains how the platform utilized existing wholesale payment systems and highlighted the advantages of using CBDCs in a cross-border context,such as the ability to avoid foreign exchange fees and the need for intermediaries in the payment chain. The authors also emphasized the importance of ensuring the privacy and security of transactions in the development of any future CBDC infrastructure.

3. Regulatory and Policy Implications Finally,the article explores the regulatory and policy implications of CBDCs for cross-border payments. It highlights the need for cross-border cooperation between central banks to develop coordinated policies and frameworks for CBDCs. With the increasing interest in CBDCs around the world,the article emphasizes the importance of a global response to ensure that the benefits of CBDCs are maximized while avoiding potential risks and challenges.


Reference: cointelegraph.com

The most traded coin


(Update every 1 hour)
at from is ($US) turnover ($)
1 BTC title=BTC 66,138.36 1,170,759,532.56
2 ARS title=ARS 1,105.70 890,728,123.20
3 ETH title=ETH 3,070.85 503,894,620.59
4 SOL title=SOL 169.48 454,613,454.39
5 BONK title=BONK <0.01 190,126,594.19
6 PEPE title=PEPE <0.01 184,413,214.06
7 WIF title=WIF 2.51 154,619,472.95
8 DOGE title=DOGE 0.15 109,748,833.29
9 FTM title=FTM 0.86 82,066,384.57
10 LINK title=LINK 16.69 78,428,899.09
11 RNDR title=RNDR 10.18 72,447,987.61
12 BOME title=BOME 0.01 69,438,851.65
13 RUNE title=RUNE 6.62 55,672,458.09
14 NEAR title=NEAR 7.86 54,341,753.96
15 XRP title=XRP 0.51 53,998,586.76
16 ENA title=ENA 0.71 51,822,282.79
17 FLOKI title=FLOKI <0.01 49,292,500.11
18 ORDI title=ORDI 39.88 48,532,658.03
19 CREAM title=CREAM 85.60 47,246,510.33
20 BCH title=BCH 486.20 41,582,144.33
21 AVAX title=AVAX 35.62 40,351,694.07
22 RSR title=RSR <0.01 38,840,574.40
23 PEOPLE title=PEOPLE 0.04 36,967,019.06
24 WLD title=WLD 4.72 32,547,514.58
25 PYTH title=PYTH 0.38 31,290,744.47
26 ICP title=ICP 12.59 30,500,196.39
27 FIL title=FIL 5.57 29,020,761.96
28 BLZ title=BLZ 0.28 28,122,744.04
29 AEVO title=AEVO 0.81 27,857,647.98

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1 Cream title=CREAM 85.60 +47.36
2 Harvest Finance title=FARM 76.26 +14.01
3 Ooki title=OOKI <0.01 +9.92
4 Phala title=PHA 0.20 +7.86
5 BinaryX title=BNX 1.07 +7.09
6 Unifi Protocol DAO title=UNFI 4.06 +6.08
7 Marlin title=POND 0.02 +5.94
8 Bonk title=BONK <0.01 +2.97
9 Chainlink title=LINK 16.69 +2.56
10 OAX title=OAX 0.23 +2.42
11 AS Roma Fan Token title=ASR 3.79 +1.86
12 aelf title=ELF 0.53 +1.75
13 Akropolis title=AKRO <0.01 +1.74
14 Bitcoin Cash title=BCH 486.20 +1.67
15 PAX Gold title=PAXG 2,411.00 +1.09
16 Render title=RNDR 10.18 +0.96
17 Hive title=HIVE 0.32 +0.61

The price of coins is falling rapidly.


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at from is ($US) reduce (%)
1 Bluzelle title=BLZ 0.28 -14.38
2 Pyth Network title=PYTH 0.38 -13.90
3 Tensor title=TNSR 0.81 -11.51
4 Manchester City Fan Token title=CITY 3.12 -9.17
5 Saga title=SAGA 2.09 -8.52
6 Quickswap [OLD] title=QUICK 0.05 -8.27
7 Lisk title=LSK 1.78 -7.86
8 Manta Network title=MANTA 1.46 -7.85
9 Starknet title=STRK 1.06 -7.82
10 ForTube title=FOR 0.02 -7.64
11 DIA title=DIA 0.46 -7.36
12 Celestia title=TIA 8.82 -7.26
13 Omni Network title=OMNI 13.89 -7.21
14 Fusionist title=ACE 4.57 -7.01
15 Ethena title=ENA 0.71 -6.97
16 Bounce title=AUCTION 13.72 -6.86
17 Decred title=DCR 19.50 -6.74
18 Beta Finance title=BETA 0.06 -6.63
19 Hooked Protocol title=HOOK 0.78 -6.60
20 Pixels title=PIXEL 0.34 -6.59
21 Cats Of Sol title=COS <0.01 -6.38
22 Massive Protocol title=MAV 0.35 -6.23
23 Polymesh title=POLYX 0.42 -6.23
24 Neutron title=NTRN 0.64 -6.20
25 NFPrompt title=NFP 0.44 -6.16
26 dYdX title=DYDX 1.93 -6.12
27 0x Protocol title=ZRX 0.55 -5.99
28 Alchemix title=ALCX 23.57 -5.91
29 Grok title=XAI 0.60 -5.87
30 Ellipsis X title=EPX <0.01 -5.79

Bitcoin's Greed and Fear Index.

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US news that has a significant impact on the market

at news day date time
1 Fed Chair Powell Speaks Sunday 19-05-2024 20:30
2 FOMC Member Bostic Speaks Monday 20-05-2024 12:30
3 FOMC Member Bostic Speaks Monday 20-05-2024 13:45
4 FOMC Member Waller Speaks Monday 20-05-2024 14:00
5 FOMC Member Barr Speaks Monday 20-05-2024 14:00
6 FOMC Member Jefferson Speaks Monday 20-05-2024 15:30
7 FOMC Member Mester Speaks Monday 20-05-2024 19:00
8 Treasury Sec Yellen Speaks Tuesday 21-05-2024 09:00
9 FOMC Member Waller Speaks Tuesday 21-05-2024 14:00
10 FOMC Member Barkin Speaks Tuesday 21-05-2024 14:00
11 FOMC Member Williams Speaks Tuesday 21-05-2024 14:05
12 FOMC Member Bostic Speaks Tuesday 21-05-2024 14:10
13 FOMC Member Barr Speaks Tuesday 21-05-2024 16:45
14 FOMC Member Mester Speaks Wednesday 22-05-2024 00:00
15 Existing Home Sales Wednesday 22-05-2024 15:00
16 Crude Oil Inventories Wednesday 22-05-2024 15:30
17 FOMC Meeting Minutes Wednesday 22-05-2024 19:00
18 Unemployment Claims Thursday 23-05-2024 13:30
19 Flash Manufacturing PMI Thursday 23-05-2024 14:45
20 Flash Services PMI Thursday 23-05-2024 14:45
21 New Home Sales Thursday 23-05-2024 15:00
22 Natural Gas Storage Thursday 23-05-2024 15:30
23 FOMC Member Bostic Speaks Thursday 23-05-2024 20:00
24 Core Durable Goods Orders m/m Friday 24-05-2024 13:30
25 Durable Goods Orders m/m Friday 24-05-2024 13:30
26 FOMC Member Waller Speaks Friday 24-05-2024 14:35
27 Revised UoM Consumer Sentiment Friday 24-05-2024 15:00
28 Revised UoM Inflation Expectations Friday 24-05-2024 15:00

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