Project Cedar Phase II x Project Ubin+

Proof of concept

Singapore, United States of America

Central Bank(s)

Monetary Authority of Singapore, US Federal Reserve

Announcement Year

2022

Status

Proof of concept

Retail/Wholesale

Wholesale

Structure

Token

DLT / non-DLT

DLT

Main motivation/goals of the CBDC

Project Cedar Phase II x Ubin+ will enhance designs for atomic settlement of cross-border cross-currency transactions, leveraging wCBDCs (wholesale CBDC) as a settlement asset. The effort, which entails establishing connectivity across multiple heterogeneous simulated currency ledgers, aims to significantly reduce settlement risk, a key pain point in cross-border cross-currency transactions.

Link to announcement

www.bis.org

Link to whitepaper

www.newyorkfed.org

Timeline

Last update: May 2023

May 2023

Updated data

Link to whitepaper: www.newyorkfed.org

November 2022

Status updated

Research Proof of concept

Added data

DLT / non-DLT: DLT

Main motivation/goals of the CBDC: Project Cedar Phase II x Ubin+ will enhance designs for atomic settlement of cross-border cross-currency transactions, leveraging wCBDCs (wholesale CBDC) as a settlement asset. The effort, which entails establishing connectivity across multiple heterogeneous simulated currency ledgers, aims to significantly reduce settlement risk, a key pain point in cross-border cross-currency transactions.

Link to whitepaper: www.newyorkfed.org

Updated data

Announcement Year: 2020 2022

September 2022

Status updated

None Research

Added data

Announcement Year: 2020

Retail/Wholesale: Wholesale

Structure: Token

Link to announcement: www.bis.org twitter.com www.atlantafed.org

Country / Region: Singapore, United States of America

Central Bank(s): Monetary Authority of Singapore, US Federal Reserve

News

No recent news found for this currency.