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Landmark International CBDC Test Deemed Success, BIS Says
Over $22 million in foreign exchange was aided via the pilot involving China, Thailand and Hong Kong, the Bank for international Settlements said
Updated May 11, 2023, 5:09 p.m. Published Sep 27, 2022, 4:25 p.m.
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A project involving multiple Asian central bank digital currencies (CBDC) has been badged a success, facilitating over $22 million in foreign-exchange transactions, the Bank for International Settlements (BIS) said Tuesday.
The trial, described as the first of its kind ever, used a custom-built distributed-ledger technology platform, is supported by central banks from China, Hong Kong, Thailand and the United Arab Emirates, and was completed Sept. 23, the BIS said in a LinkedIn post.
STORY CONTINUES BELOW
Multiple jurisdictions around the world are looking at creating a central bank digital currency, but they also want to ensure that any dematerialized form of state-backed fiat allows for fast and safe payments across borders, which are today often costly.
A statement issued in November said that Goldman Sachs, HSBC, Societe Generale and China’s six biggest state-owned lenders are among the 20 commercial banks involved in the project, known as mBridge.
A detailed report will be released in October, said the BIS, a grouping of the world’s central banks based in Basel, Switzerland.
Read more: mBridge Reveals 15 Use Cases and 22 Heavyweight Participants
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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
Tarafından sipariş edildiKuCoin
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Bilinmesi gerekenler:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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A few Republicans have crypto's destiny in their hands at the SEC, CFTC
After holiday leadership shifts, the two U.S. markets regulators — the SEC and CFTC — are now run only by pro-crypto Republicans, with Congress still debating.
Bilinmesi gerekenler:
- The crypto industry finally has two permanent, crypto-friendly chairmen at the Securities and Exchange Commission and the Commodity Futures Trading Commission, and they have no Democratic pushback.
- The lack of fully stocked commissions at the market regulators is a big problem in the eyes of Senate Democrats negotiating the crypto market structure bill.
- The lone remaining Democrat, Caroline Crenshaw, left the SEC last week.
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