Cross-border CBDC project Mbridge enters minimum viable product (MVP) stage

The cross-border central bank digital currency (CBDC) trading platform, Project Mbridge, has entered the minimum viable product (MVP) stage, and its infrastructure now has basic functionality. According to a press release from the Bank for International Settlements (BIS), the project began its pilot phase in 2021 in collaboration with the Bank of Thailand, the Central Bank of the United Arab Emirates, the People's Bank of China (PBOC), and the Hong Kong Monetary Authority (HKMA), and is now ready for actual intermediate value transactions.