According to ChainCatcher, the cross-border central bank digital currency (CBDC) trading platform Project Mbridge has entered the minimum viable product (MVP) stage, and its infrastructure now has basic functions. According to a press release issued by the Bank for International Settlements (BIS), the project started a pilot in 2021 in cooperation with the Bank of Thailand, the Central Bank of the United Arab Emirates, the People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA), and is now ready for intermediate real value transactions.