Follow us on social media:

Singapore, France and Switzerland to Collaborate on Project Mariana


The BIS Innovation Hub’s 2022 work plan includes a project on central bank digital currencies (CBDCs) and Decentralized Finance (DeFi) protocols.

Project Mariana examines automated market makers (AMM) for Swiss franc, Euro, and Singapore dollar wholesale CBDCs. It also examines whether financial institutions may settle foreign currency deals on the market.

Eurosystem, BIS Innovation Hub Centres in Singapore and Switzerland, Bank of France, Monetary Authority of Singapore, and Swiss National Bank are all involved. Proof of concept is due by mid-2023.

Project Mariana automates FX markets and settlement using DeFi protocols. This might simplify cross-border money transfers.

New financial infrastructures might utilise similar protocols to enable CBDC cross-border trading.

Share this post: