A cross-industry consortium is being launched in the UK to run a retail CBDC pilot, which will feature a live Digital Sterling (dSterling) stablecoin asset, according to Finextra. The Digital Financial Market Infrastructure (DFMI) consortium currently counts IBM, Finastra, FinClusive, Ibanera, paywith.glass, Mattereum, Trust Payments and Accomplish Financial as members.
The initiative is being co-ordinated by Dutch financial infrastructure group paywith.glass, with Boston Consulting Group as its consulting partner, and supported by The Payments Association in the UK.
The upcoming pilot, operating under the bannner ‘Project New Era’, will test high potential use-cases and provide empirical inputs to policymakers and regulators on future design considerations for CBDC development and stablecoin regulation.
What will the UK’s first Digital Sterling pilot look like?
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