Odaily Planet Daily News The Bank of Ghana (BoG) has completed a proof of concept to explore the use of digital credentials for international trade and cross-border payments based on CBDC. The proof of concept is part of the "Digital Economy Semi-Fungible Token" (Project Desft), which is an exploration by the Bank of Ghana and the Monetary Authority of Singapore on how to use technology to promote the participation of micro, small and medium-sized enterprises in developing countries in international trade. Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana, said: "Project Desft aims to support African SMEs to participate in international trade by removing major obstacles faced by SMEs in international trade, such as building trust with overseas trading partners and obtaining cross-border payment and supply chain financing support."