The native currency of Quant, a blockchain platform that helps financial institutions incorporate digital currencies into their businesses, on June 15 soared 20% following its partnership announcement with the Bank of England for Project Rosalind. Project Rosalind is a central bank digital currency (CBDC) initiative, led by the Bank for International Settlements (BIS) and the Bank of England. It aims to explore the implementation of APIs in CBDC systems to facilitate retail payments. Quant contributed to the development of Project Rosalind, by designing and developing API functionalities that would enable programmability within the private sector.
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