SWIFT, the global financial messaging network, is aiming to create a new platform to connect central bank digital currencies to the existing finance system in the next 1-2 years, its head of innovation Nick Kerigan told Reuters.
“We’re looking at a roadmap to productize in the next 12-24 months,” said Kerigan. “It’s moving out of experimental stage towards something that is becoming a reality.”
His statements followed the latest sandbox testing’s results for SWIFT’s Central Bank, Digital Currency (CBDC) interlinking solution, which was done over the last six months and involved 38 institutions.
“Our solution has the potential to simplify and speed up trade flows, unlock growth in tokenized securities markets, and enable efficient FX settlement,” said SWIFT.
Participants in the sandbox included central banks of Australia, France, Germany, and Singapore, as well as commercial banks such as Citibank (C), HSBC (HSBC), Deutsche Bank (DB), ANZ (OTCPK:ANZGY), and DBS (OTCPK:DBSDF).
See full article from SeekingAlpha.com.
The post Global Financial Messaging Behemoth to Launch Central Bank, Digital Currency (CBDC) Platform Within Two Years appeared first on Stopping Socialism (Slavery).
Click this link for the original source of this article.
Author: Stopping Socialism (Slavery)
This content is courtesy of, and owned and copyrighted by, https://stoppingsocialism.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.