TOKYO -- Seven central banks will join with private-sector lenders to test the use of "tokenized" money on a digital ledger for faster, cheaper international transactions, which could mark a step toward a new settlement system.
Currencies
Top central banks to lay groundwork for instant digital cross-border payments
BOJ and New York Fed join tokenization project for faster, cheaper transactions
U.S., Asian and European central banks are among the participants in a Bank for International Settlements-led trial of tokenized central bank money. © Reuters
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