The BIS Innovation Hub and leading central banks have unveiled Project Mandala, a groundbreaking initiative to revolutionize 🌐 cross-border transactions.
💡 Key Highlights:
🔹 Compliance by Design: Automates regulatory checks seamlessly within digital settlement systems.
🔹 Efficiency Boost: Faster, more transparent, and cost-effective processes.
🔹 Privacy Safeguards: Innovative design ensures data protection and confidentiality.
🔹 Global Collaboration: Tested across Singapore, Malaysia, Korea, and Australia, setting the stage for worldwide adoption.
⚙️ Mandala aligns with G20 priorities, paving the way for a unified, efficient global financial infrastructure 🌐. While experimental, it showcases the future of frictionless international payments.
Access the full report here and enjoy your read! 📖
🚀 Let’s embrace the possibilities of innovation in finance! ✨ Contact us at lawfirm@dalir.co.uk if you wish to discuss how this impacts your organisation.