Swiss National Bank, Banque de France, Monetary Authority of Singapore and BIS Innovation Hub to explore cross-border trading and settlement of wholesale CBDCs using DeFi protocols

Project Mariana explores automated market makers for the cross-border exchange of hypothetical central bank digital currenciesin Swiss francs, euros and Singapore dollars between financial institutions to settle foreign exchange trades in financial markets. Mariana uses decentralised finance (DeFi) protocols to automate foreign exchange markets and settlement, potentially improving cross-border payments…