According to PANews, the Bank for International Settlements (BIS) is discussing whether to shut down the pilot cross-border payment platform mBridge, which Putin previously viewed as a tool to circumvent sanctions and undermine the dominance of the US dollar.
The mBridge project, which promised to enable global remittances without reliance on U.S. banks, was discussed at the annual meetings of the International Monetary Fund and the World Bank, and shutting it down was one of the options discussed, according to people familiar with the matter.
Agustin Carstens, president of the Bank for International Settlements, said that the BIS cannot support any projects of the BRICS countries because it is not possible to cooperate with sanctioned countries.
