by Jake ClaverBIS Project Aurum, CBDC, and stablecoins: stablecoins doing real settlement work
Here the focus is BIS Project Aurum, CBDC, and stablecoins, which put stablecoins to work as settlement money. It is concrete and sourced rather than a broad assertion.
The Settlement Layer
This material is about fiat-denominated value moving through the ecosystem, usually via issuance or settlement. Supporting material comes from the BIS Project Aurum page and the HKMA e-HKD bulletin referencing Aurum. BIS Project Aurum PDF, a research document from the organizations involved, states it directly:
> Jointly embarking on the challenge to design a full-stack central bank digital currency (CBDC) system, the Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) dubbed the project “Aurum”, the Latin word for gold, reflecting our starting premise that digital currency issued under the auspices of a central bank must be as robust and trustworthy as gold. Through the creation of a technology stack comprised of: (1) a wholesale interbank system in which…
The Takeaway For Market Infrastructure
This strengthens the broader institutional payments and tokenization stack because stablecoin activity can improve how useful a network is for payments and treasury operations. The broader research trail also includes the HKMA e-HKD Pilot Programme Phase 1 report PDF, the HKMA selected e-HKD pilot companies/use cases PDF, and the Fubon Bank/Ripple HELOC pilot press release PDF.
What The Source Shows
