Project Dunbar was a multi-central-bank experiment exploring a shared platform for multiple central bank digital currencies to settle cross-border transactions directly.
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- Project Dunbar tested whether several central banks could issue digital currencies onto a common platform, allowing institutions to transact in multiple currencies without intermediary correspondent banks. The aim was to shorten settlement chains and reduce cost in cross-border payments.
- The work examined governance and access models for a shared multi-CBDC ledger, including how to reconcile differing national rules on a single platform. It sits in the broader effort to modernise cross-border payment infrastructure.