Odaily Planet Daily News: The Bank for International Settlements announced the launch of Project Rialto to improve traditional cross-border payments. The project aims to enhance instant cross-border payments by combining modular foreign exchange components with central bank wholesale digital currency CBDC settlement. The initiative was initiated by the Bank for International Settlements Innovation Center and Singapore Centres in cooperation with several central banks to solve the current problems of high cost, slow speed and complexity of foreign exchange services. (Bitcoin.com)