The non-profit initiative announced on Wednesday that the program is set to start in early October, with an initial focus on cross-border payments.
The program will undergo two phases — an education phase and a pilot phase. The results of the studies will then be “shared and used to inform private and public sector stakeholders on how advancing technical solutions can unlock business value in a transformative way.”
The Digital Dollar Project was formed by information technology consultancy Accenture and the Digital Dollar Foundation, a public education and advocacy group.
In April, the Depository Trust and Clearing Corporation, one of the largest financial service providers in the U.S., partnered with the Digital Dollar Project and launched “Project Lithium” to test CBDC infrastructure.
In March, U.S. President Joe Biden issued an executive order that placed “highest urgency” on the research and development of a potential U.S. CBDC.
