mBridge CBDC Project Welcomes New Members and Launches Minimum Viable Product

Project mBridge is poised for significant expansion, as indicated by Hong Kong Monetary Authority (HKMA) CEO Eddie Yue during a recent speech in Shanghai.

Yue highlighted that testing has demonstrated mBridge’s capacity for facilitating faster, more affordable, and more transparent cross-border payments. The initiative was launched in 2021, involving the HKMA along with the central banks of China, Thailand, and the United Arab Emirates, in addition to commercial banks from each of these regions and the Bank for International Settlements Innovation Hub.