BIS Unveils 'Rialto' Project to Enhance Cross-Border Payments with CBDCs
CryptoNewsTerminal Staff04 Jun, 2024
BIS Unveils 'Rialto' Project to Enhance Cross-Border Payments with CBDCs
The Bank for International Settlements (BIS) is spearheading a groundbreaking project called "Rialto" to revolutionize cross-border payments. As reported by Bitcoin.com, this initiative aims to streamline foreign exchange (FX) transactions by leveraging central bank digital currencies (CBDCs). By adopting a modular approach, the Rialto project seeks to integrate CBDCs into the settlement process, facilitating faster, more secure, and cost-effective cross-border payments. The project's ultimate goal is to foster innovation and enhance financial inclusion globally.
