The Bank of Italy and the Bank of Korea signed a Memorandum of Understanding on Tuesday.
The MOU will allow for the two central banks to share “knowledge and information on the topics of ICT technologies in support of real time settlement systems and the central bank digital currency (CBDC),” according to a press release from the Bank of Italy.
This isn’t the first time that the two have collaborated with each other on CBDCs. Back in June, both the banks of Korea and Italy partnered with the Monetary Authority of Singapore and the International Monetary Fund on a paper focused on purpose-bound money. PBM allows money to be programmed to be used for a specific purpose.
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