Qatar Central Bank (QCB) has launched the first phase of a central bank digital currency (CBDC) project, focusing on large payment settlements among major banks. The project, which will run until October, will explore distributed ledger technology, artificial intelligence, liquidity enhancement, and securities transactions. This move comes after the QCB began studying CBDC technology in March 2022. The UAE, Qatar's neighbor, has already participated in similar projects, including the mBridge project and Project Aber. The QCB's announcement follows the recent launch of a new fintech sandbox, the Express Sandbox.