Banque de France (BdF), MAS and JP Morgan ONYX worked together on the design of multi-currency corridors using CBDCs, DLT and Smart Contracts technology.
They propose an architecture to facilitate PvP (“payment versus payment”) for FX transactions, in an inter-operable clouds infrastructure (public + private) working as a network. The solution design offers a common mCBDC network that enabled MAS and
BdF to have visibility on cross-border payments.
The paper is available on the BdF website at: https://www.banque-france.fr/sites/default/files/media/2021/11/15/bdf-mas-onyx_liquidity_management_in_a_multi-currency_corridor_network_vfinal_-_12112021_0.pdf