Using CBDCs across borders: lessons from practical experiments

Key takeaways

• The BIS Innovation Hub (BISIH) is leading practical experiments to show how central bank digital currencies (CBDCs) could help deliver faster, cheaper and more transparent cross-border payments.
• These experiments demonstrate that common systems encompassing multiple CBDCs are operationally feasible and could bring efficiencies. Yet policy, legal, governance and economic questions remain.
• The BISIH is uniquely positioned to bring central banks together in the collaborative efforts that will be necessary to make further progress on this question.