Swift Sets Industry Up for Seamless Introduction of CBDCs for Cross-Border Transactions as Interlinking Solution Finds More Use Cases
Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.
- Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.
- The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.
- Swift now plans to extend its solution to support a wider range of emerging digital networks in addition to CBDCs, such as platforms for tokenised deposits.
- This will help to facilitate access and usage of CBDCs in the new complex world of digital payments.