The Currency Bridge will be fully developed and operated by participating central banks and monetary authorities

The Multilateral Central Bank Digital Currency Bridge Steering Committee issued a "Statement on Promoting the Continuous Operation of the Currency Bridge Project", stating that the Multilateral Central Bank Digital Currency Bridge Project will be fully taken over by participating central banks and monetary authorities for continuous development and operation. The Currency Bridge Project Team (hereinafter referred to as the "Project Team") will go all out to advance the project from the minimum viable product (MVP) stage to the full production stage. Agustín Carstens, General Manager of the Bank for International Settlements (BIS), recently announced that the initial exploratory work of the Currency Bridge Project has been completed and the project has reached a mature level that can be transferred to all participants. BIS has been involved in the Currency Bridge Project for four years, collaborating with multiple central bank partners and many observer members in the project. "The project has been successful enough that we can announce that the project can graduate from BIS," said Carstens. The Multilateral Central Bank Digital Currency Bridge Steering Committee pointed out in the "Statement" that the project team has successfully advanced the Currency Bridge Project to the sustainable minimum viable product (MVP) stage and established a sound governance structure and legal framework. Since the launch of the project, BIS has provided strong support. Now, the Currency Bridge project will be fully taken over by the participating central banks and monetary authorities for continued development and operation, so that the BIS can allocate resources to other early-stage innovative projects. (Securities Times)