This decentralised architecture integrates three core components: a peer-to-peer messaging system, a rules engine and a proof engine.
Project Mandala, a collaboration between the Bank for International Settlements (BIS) innovation hub Singapore centre, Monetary Authority of Singapore (MAS), Reserve Bank of Australia, Bank of Korea and Bank Negara Malaysia, has successfully demonstrated that regulatory compliance can be embedded in cross-border transactions.
Project Mandala developed a compliance-by-design decentralised system that streamlines cross-border payments by embedding regulatory compliance within a network of financial institutions and central banks.
