Golden Finance reported that the Bank for International Settlements (BIS) and central bank partners launched the Mandala project, which explores the feasibility of encoding the policy and regulatory requirements of specific jurisdictions into universal protocols for cross-border use cases such as foreign direct investment, lending and payments. The purpose is to address the key challenges discovered during the Dunbar project and develop an experimental multi-central bank digital currency (mCBDC) platform. The envisioned compliance design architecture can enable more efficient cross-border transfers of any digital assets, including CBDC and tokenized deposits. It can also serve as the underlying compliance layer for traditional and emerging wholesale or retail payment systems. The Mandala project is jointly carried out by the Singapore Center of the Bank for International Settlements Innovation Center (BISIH), the Reserve Bank of Australia (RBA), the Bank of Korea (BOK), the Central Bank of Malaysia (BNM) and the Monetary Authority of Singapore (MAS) with financial institutions.