Cross-Border CBDC Payment System Announced by Chinese Blockchain Firm

Cross-border CBDC Payment System Unveiled By Chinese Blockchain Firm CoinEdition

Cross-border CBDC Fee System Unveiled by Chinese language Blockchain Agency
  • Chinese language blockchain agency is growing new CBDC cost system.
  • The brand new platform is not going to permit any decentralized crypto.
  • China’s personal digital yuan was by no means talked about within the whitepaper.

Hong Kong-based blockchain firm Pink Date Expertise has unveiled a brand new digital cost system that goals to attach the 2 stablecoin sectors and central financial institution digital currencies (CBDCs). The agency unveiled its cost system, dubbed the Common Digital Fee Community (UDPN), in the course of the World Financial Discussion board (WEF) 2023 convention in Davos, Switzerland, on Thursday.

UDPN is being developed in collaboration with GFT Applied sciences, a expertise engineering agency, and TOKO, the digital asset era engine of DLA Piper, a legislation agency. The UDPN whitepaper describes itself as a (Distributed ledger expertise) DLT platform that may facilitate stablecoin and CBDC transactions for banks just like the SWIFT community.

The Common Digital Funds Community whitepaper on the mission acknowledged:

Simply because the SWIFT community created the unique widespread commonplace for messaging between monetary establishments in numerous cost methods, UDPN will serve the identical function for the following era of CBDCs and stablecoins.

The white paper additionally revealed that it’s decentralized…

Introduced by Chinese language Blockchain Agency, the Cross-Border CBDC Fee System first appeared on Coin Version.

See the original on CoinEdition

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