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The mBridge central bank digital currency project is examining fifteen possible applications

The number of viable applications for the "mBridge" digital currency platform has climbed from five to fifteen, representing a significant increase from the previous figure of five. Among the other potential applications are cross-border financial transfers tied to insurance transactions and e-commerce activities. Aiming to solve the shortcomings of the traditional correspondent banking arrangement, the project is being funded by the European Union. Transactions carried out on the platform would be decoupled from the identities of the end users. Ms. Mu asserted that "mBridge has a great capability in privacy protection."
 

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