In a joint announcement on February 23, 2021, multiple major banks in Asia have come together to create a cross-border central bank digital currency (CBDC). This cross-border CBDC is called m-CBDC or Multiple Central Bank Digital Currency Bridge.

The major banks that have joined hands in creating this CBDC prototype by using DLT (distributed ledger technology) include major names such as Hong Kong Monetary Authority, the Digital Currency Institute of the People’s Bank of China, the Central Bank of the United Arab Emirates, and the Bank of Thailand.

https://medium.com/daily-highlights-crypto-analysis-news/major-banks-in-asia-have-united-to-form-a-cross-border-cbdc-c8375713ade8

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