by Jake ClaverBRICS dedollarization, mBridge, and cross-border settlement: stablecoins doing real settlement work
BRICS dedollarization, mBridge, and cross-border settlement put stablecoins to work as settlement money. Every part of it traces back to a named, primary source.
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 mBridge page and the BIS Project mBridge report PDF. Carnegie Endowment article, a research document from the organizations involved, states it directly:
> Project mBridge: Connecting economies through CBDC 4 1. Executive summary Project mBridge experiments with cross-border payments using a common platform based on distributed ledger technology (DLT) upon which multiple central banks can issue and exchange their respective central bank digital currencies (multi-CBDCs). The proposition of mBridge is that an efficient, low-cost and common multi-CBDC platform can provide a network of direct central bank and commercial participant connectivity, greatly increasing the…
What This Means For Market Infrastructure
What it changes for the broader institutional payments and tokenization stack: stablecoin activity can improve how useful a network is for payments and treasury operations.
One caveat for honest use: Do not connect to XRP/XLM/XDC/HBAR without a direct source.
From The Source
