There’s been considerable work on the concept of using wholesale (interbank) central bank digital currencies (CBDC) to address the frictions of cross border payments. So far, only one project has taken the alternative route of interlinking multiple retail domestic CBDCs to enable consumers or businesses to make direct person-to-person international payments. To do just that, the Bank of Israel is working with the central banks of Norway and Sweden and the Nordic BIS Innovation Hub on Project Icebreaker, as announced in September last year.