NY Federal Reserve testing CBDCs to improve foreign exchange transactions

NY Federal Reserve testing CBDCs to improve foreign exchange transactions

Source: CoinGeek The New York Federal Reserve (NY Fed), in conjunction with the Bank for International Settlements (BIS) Innovation Hub, is looking into the use of central bank digital currency (CBDC) to streamline the settlement times of foreign exchange (FX) transactions. The exploration is part of Project Cedar, an experiment conducted by the BIS to test the […]