Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

XRP price to crash 30% if this happens

2025-05-22

Billionaire Justin Sun To attend the Crypto dinner with President, says he is ‘top holder’ of Trump’s memecoin

2025-05-22

Strive Eyes 75,000 Mt. Gox bitcoin to build treasure chest prior to merger

2025-05-22
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Validation Cloud implements AI -Engine on Hedera

    2025-05-22

    Sony announces the Mavet launch of Soneium Blockchain

    2025-05-21

    Nitro Labs launches data anchor to lower the storage costs of Solana

    2025-05-21

    Zimbabwe rolls out blockchain-based carbon credit market system

    2025-05-21

    Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

    2025-05-21
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Bitcoin price rays to New All Time Bulls takes the lead

    2025-05-22

    Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

    2025-05-21

    Does the XRP price mirror the Rally of 2017? Analyst points to agreements

    2025-05-21

    Bitcoin breaks $ 109k ATH to enter the price discovery again

    2025-05-21

    XRP – Price coil for an outbreak – is the next leg on hands?

    2025-05-21
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»BIS is working with central banks to address cross-border compliance with Project Mandala
BIS is working with central banks to address cross-border compliance with Project Mandala
Regulation

BIS is working with central banks to address cross-border compliance with Project Mandala

2024-10-28No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

According to an October 28 statement, the Bank for International Settlements (BIS) has worked with several central banks to highlight regulatory compliance in cross-border transactions through Project Mandala.

This initiative involves the BIS Innovation Hub Singapore Center and the central banks of Australia, Korea, Malaysia and Singapore. The project aims to address the regulatory challenges associated with cross-border transactions in different jurisdictions.

Project Mandala

Cross-border transactions often struggle with compliance due to differing regulatory frameworks. This discrepancy can lead to higher costs and delays. Project Mandala attempts to solve these problems while maintaining legal standards.

Project Mandala aims to improve the speed and efficiency of cross-border transactions by automating compliance processes. It will also improve transparency regarding country-specific policies and provide regulators with real-time reporting.

Maha El Dimachki, head of the BIS Innovation Hub Singapore Centre, noted that the project takes a compliance-by-design approach. This method is intended to protect both privacy and the integrity of regulatory controls.

The BIS page shows that the project has reached the proof-of-concept stage and aligns with the G20’s priorities for improving cross-border payments. The potential to save costs and speed up transactions while ensuring compliance makes it an important step forward.

How Mandala Works

Project Mandala uses a decentralized system to facilitate cross-border payments, entrenching compliance within central banks and financial institutions. This infrastructure includes a peer-to-peer messaging system, a rules engine, and a proof engine.

These components ensure that all necessary compliance checks are completed before payments are initiated. Once these checks are completed, the Mandala system generates proof of compliance that accompanies all digital settlement assets or payment instructions across borders.

See also  Ripple files motion to block SEC appeal attempt

Meanwhile, Mandala can also be effectively integrated with emerging digital asset settlement systems, including central bank digital currencies (CBDCs) and established payment messaging systems such as SWIFT.

This dual integration increases Mandala’s versatility and adaptability, allowing it to support both future digital asset ecosystems and today’s financial infrastructure. In addition, Mandala has implemented programmable compliance for digital assets that can be seamlessly embedded into smart contracts.

Source link

Address Banks BIS Central compliance crossborder Mandala Project working
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Billionaire Justin Sun To attend the Crypto dinner with President, says he is ‘top holder’ of Trump’s memecoin

2025-05-22

BPI is releasing policy manifesto and urges us to train in Bitcoin infrastructure

2025-05-22

Fibs Atlanta Man Roodert for alleged application of more than $ 3,390,000 in fraudulent small business loans during Covid

2025-05-21

Hong Kong promotes the Stablecoin legislation that introduces new rules for issuers

2025-05-21
Add A Comment

Comments are closed.

Top Posts

Ethereum Price Skyrockets: Will Bulls Spark Another Rally?

2024-12-26

Dogecoin (DOGE) Eyes Acceleration: Will It Climb Higher?

2024-09-19

Vitalik Buterin Not a fan of simplifying L1s at the expense of L2s

2024-02-23
Editors Picks

CFTC Chairman Rostin Behnam Disagrees with Gary Gensler on the State of Digital Asset Regulation

2023-10-02

How are overlay networks revolutionizing Blockchain technology?

2024-05-17

Japan ends tax on unrealized profits on corporate crypto assets

2023-12-25

Outbreak Warning! Dogwifhat (WIF) Poised for a 35% Rally

2024-12-28
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

XRP price to crash 30% if this happens

Billionaire Justin Sun To attend the Crypto dinner with President, says he is ‘top holder’ of Trump’s memecoin

Strive Eyes 75,000 Mt. Gox bitcoin to build treasure chest prior to merger

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,823.663.76%
  • ethereumEthereum(ETH)$2,618.192.35%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.391.89%
  • binancecoinBNB(BNB)$680.593.82%
  • solanaSolana(SOL)$176.694.69%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2398925.46%
  • cardanoCardano(ADA)$0.794.40%
  • tronTRON(TRX)$0.2715630.15%
  • suiSui(SUI)$4.116.87%
  • chainlinkChainlink(LINK)$16.302.70%
  • hyperliquidHyperliquid(HYPE)$30.2615.33%
  • avalanche-2Avalanche(AVAX)$23.986.20%
  • stellarStellar(XLM)$0.2969602.98%
  • shiba-inuShiba Inu(SHIB)$0.0000153.71%
  • hedera-hashgraphHedera(HBAR)$0.2011212.42%
  • bitcoin-cashBitcoin Cash(BCH)$414.423.85%
  • unus-sed-leoUNUS SED LEO(LEO)$8.870.67%
  • the-open-networkToncoin(TON)$3.153.23%
  • polkadotPolkadot(DOT)$4.812.80%
  • litecoinLitecoin(LTC)$98.393.70%
  • moneroMonero(XMR)$397.809.51%
  • bitget-tokenBitget Token(BGB)$5.262.14%
  • pepePepe(PEPE)$0.0000144.68%
  • piPi(PI)$0.834.27%
  • daiDai(DAI)$1.000.00%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • bittensorBittensor(TAO)$472.1912.96%
  • uniswapUniswap(UNI)$6.31-0.57%
  • aaveAave(AAVE)$252.09-2.97%
  • nearNEAR Protocol(NEAR)$2.934.98%
  • aptosAptos(APT)$5.374.04%
  • okbOKB(OKB)$52.851.40%
  • ondo-financeOndo(ONDO)$1.005.63%
  • kaspaKaspa(KAS)$0.1165075.84%
  • ethereum-classicEthereum Classic(ETC)$19.404.96%
  • internet-computerInternet Computer(ICP)$5.463.32%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.481.60%
  • gatechain-tokenGateToken(GT)$21.820.95%
  • crypto-com-chainCronos(CRO)$0.0992733.02%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2483637.04%
  • vechainVeChain(VET)$0.0298444.71%
  • render-tokenRender(RENDER)$4.956.19%
  • mantleMantle(MNT)$0.750.73%
  • ethenaEthena(ENA)$0.4051234.61%
  • usd1World Liberty Financial USD(USD1)$1.000.07%
  • arbitrumArbitrum(ARB)$0.4217176.42%
  • algorandAlgorand(ALGO)$0.2357704.69%
  • filecoinFilecoin(FIL)$3.004.94%
  • bitcoinBitcoin(BTC)$110,823.663.76%
  • ethereumEthereum(ETH)$2,618.192.35%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.391.89%
  • binancecoinBNB(BNB)$680.593.82%
  • solanaSolana(SOL)$176.694.69%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2398925.46%
  • cardanoCardano(ADA)$0.794.40%
  • tronTRON(TRX)$0.2715630.15%
  • suiSui(SUI)$4.116.87%
  • chainlinkChainlink(LINK)$16.302.70%
  • hyperliquidHyperliquid(HYPE)$30.2615.33%
  • avalanche-2Avalanche(AVAX)$23.986.20%
  • stellarStellar(XLM)$0.2969602.98%
  • shiba-inuShiba Inu(SHIB)$0.0000153.71%
  • hedera-hashgraphHedera(HBAR)$0.2011212.42%
  • bitcoin-cashBitcoin Cash(BCH)$414.423.85%
  • unus-sed-leoUNUS SED LEO(LEO)$8.870.67%
  • the-open-networkToncoin(TON)$3.153.23%
  • polkadotPolkadot(DOT)$4.812.80%
  • litecoinLitecoin(LTC)$98.393.70%
  • moneroMonero(XMR)$397.809.51%
  • bitget-tokenBitget Token(BGB)$5.262.14%
  • pepePepe(PEPE)$0.0000144.68%
  • piPi(PI)$0.834.27%
  • daiDai(DAI)$1.000.00%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • bittensorBittensor(TAO)$472.1912.96%
  • uniswapUniswap(UNI)$6.31-0.57%
  • aaveAave(AAVE)$252.09-2.97%
  • nearNEAR Protocol(NEAR)$2.934.98%
  • aptosAptos(APT)$5.374.04%
  • okbOKB(OKB)$52.851.40%
  • ondo-financeOndo(ONDO)$1.005.63%
  • kaspaKaspa(KAS)$0.1165075.84%
  • ethereum-classicEthereum Classic(ETC)$19.404.96%
  • internet-computerInternet Computer(ICP)$5.463.32%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.481.60%
  • gatechain-tokenGateToken(GT)$21.820.95%
  • crypto-com-chainCronos(CRO)$0.0992733.02%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2483637.04%
  • vechainVeChain(VET)$0.0298444.71%
  • render-tokenRender(RENDER)$4.956.19%
  • mantleMantle(MNT)$0.750.73%
  • ethenaEthena(ENA)$0.4051234.61%
  • usd1World Liberty Financial USD(USD1)$1.000.07%
  • arbitrumArbitrum(ARB)$0.4217176.42%
  • algorandAlgorand(ALGO)$0.2357704.69%
  • filecoinFilecoin(FIL)$3.004.94%