JP Morgan issued “mCBDCs - Unlocking 120 billion value in cross-border payments“ which outlines the business case for a multi-currency central bank digital currency (mCBDC) network to address the pain points in the current cross-border payment system. Global corporates move $23.5 trillion across borders annually, incurring $120 billion in transaction costs due to inefficiencies in the correspondent banking network, such as high fees, long settlement times, and lack of transparency. The paper ...

JP Morgan issued “mCBDCs - Unlocking 120 billion value in cross-border payments“ which outlines the business case for a multi-currency central bank digital currency (mCBDC) network to address the pain points in the current cross-border payment system. Global corporates move $23.5 trillion across borders annually, incurring $120 billion in transaction costs due to inefficiencies in the correspondent banking network, such as high fees, long settlement times, and lack of transparency. The paper ...