Skip to content

DeFi and FX Markets

Decentralised finance (DeFi) uses blockchain and smart contracts to create transparent financial protocols. A notable application is automated market makers (AMMs) for FX markets. The BIS Innovation Hub, in collaboration with central bank partners from France, Singapore, and Switzerland, launched Project Mariana to study the impact of AMMs and wholesale central bank digital currencies (wCBDCs) on FX markets and potential implications for CBDCs. The roundtable discussed findings from Project Mariana, spanning technological and policy considerations, and delved into the project's motivations, bridging the gap between DeFi and traditional finance. 

DeFi and FX Markets