The Davos World Economic Forum launches the Universal Digital Payment Network (UDPN)

ChainCatcher news, according to Finextra, a Universal Digital Payments Network (UDPN) aimed at stablecoins and central bank digital currencies (CBDCs) has been launched at the World Economic Forum (WEF). The network is designed to provide interoperability between these digital currencies.

It is reported that the payment network was launched in Davos, where a panel from Deutsche Bank, HSBC, Standard Chartered, East Asia Bank, and Akbank discussed the rapidly evolving digital currencies, interoperability, and infrastructure. The UDPN report indicates that several tier-one banks will participate in a series of proof-of-concept use cases for the remainder of this month to demonstrate how UDPN can be used to address the challenges of integrating digital currencies into everyday business, banking, and payment scenarios. (Source link)