SWIFT, a platform that facilitates cross-border payments, has announced that it has begun testing cross-border payments using central bank digital currencies (CBDCs).
“We’re collaborating with @Capgemini to explore how SWIFT can interlink the multiple domestic-based #CBDC networks emerging worldwide to make cross-border payments with #DigitalCurrencies more seamless & frictionless”, the organization wrote on Twitter.
In an article announcing the move, SWIFT references a recent report by the Bank for International Settlements (BIS) that claimed that 90% of central banks around the world are working on CBDCs. SWIFT feels there is a need for a standardized system to enable the cross-border use of CBDCs...
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