Pilot jointly run by the Bank of England (BoE) and the Bank of International Settlements (BIS)
IN BRIEF:
Project Rosalind explored how a "universal and extensible API layer" could connect central bank and private sector infrastructures to enable retail CBDC payments
The project has successfully demonstrated that "a well-designed API layer could work with different private sector applications and central bank ledger designs and that a set of simple and standardised API functionalities could support a diverse range of use cases"
The project led to the development of 33 API functionalities and examined 30 retail CBDC use cases
What does this mean?
"Active collaboration with the public and private sectors to identify and explore these use cases has been at the heart of this," said Francesca Hopwood Road, Head of the BIS Innovation Hub London Centre. "We believe that Rosalind can make a significant contribution to how organisations across the globe are thinking about and engaging with the design of retail CBDC systems."
