BIS - Project Rialto (Technical Report)

2025

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This technical report details Project Rialto's successful demonstration of a novel approach to improving instant cross-border payments by integrating interlinked instant payment systems with automated FX and central bank money settlement.

* Explores the technical feasibility of connecting non-tokenized payment systems with tokenized FX and settlement.
* Presents a proof-of-concept integrating instant payment systems, automated FX markets, and tokenized central bank money.
* Analyzes the economic, legal, and governance considerations for the viability of this approach in the retail cross-border payments market.

Tags: cross-border payments, central bank money, DLT, automated FX, payment systems

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