Four Countries Agree to Test Cross-Border Payments Using Digital Currencies
The Bank for International Settlements (BIS) announced yesterday that Australia, Malaysia, Singapore, and South Africa have agreed to test cross-border payments using central bank digital currencies (CBDCs) in late 2021 and early 2022. The effort has been dubbed Project Dunbar, an apparent reference to Dunbar’s number, which states that humans can only maintain 150 stable…