CBDC Pilots Now Being Tested by Three Central Banks, According to SWIFT - The Daily Hodl
Three central banks have launched new pilots for central bank digital currencies (CBDCs), according to an announcement from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). ...
- Three central banks have launched new pilots for central bank digital currencies (CBDCs), according to SWIFT.
- SWIFT is working on CBDC interoperability and a trio of central banks are beta-testing new systems for interlinking CBDCs.
- The Hong Kong Monetary Authority (HKMA) and the National Bank of Kazakhstan have started integrating the new solution for direct testing.
- SWIFT aims to ensure interoperability between different digital currencies and existing fiat-based currencies and payment systems.
- SWIFT's "connector" technology has enabled seamless transactions between different blockchain-based CBDC systems.
- Interoperability solutions are a top priority for SWIFT due to potential fragmentation issues with the future deployment of CBDCs.
The article highlights the progress made by SWIFT and central banks in developing and testing CBDCs, with a focus on ensuring interoperability. The tone is positive, emphasizing the potential benefits of CBDCs and the importance of addressing fragmentation issues.