BIS issues comprehensive paper on offline CBDC payments
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The Bank for International Settlements (BIS) is actively exploring opportunities for offline payments involving a central bank digital currency, or CBDC.
On May 11, the BIS Innovation Hub Nordic Centre
Offline functionality is a major feature of multiple CBDC projects currently being developed by global central banks. As previously reported, countries like Australia, India and Russia have been working on offline CBDC payment technology.
Australia’s central bank plans to launch a “live pilot” of a CBDC that features offline payments “in the coming months.” The Reserve Bank of India has been testing CBDC offline functionality since March 2023. The central bank of Russia expects to introduce the offline mode for the digital ruble by 2025.
