SWIFT: Three central banks are conducting beta tests on their CBDC interoperability project for cross-border payments

2023-09-14 21:48:15
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ChainCatcher news, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced that three central banks, including the Hong Kong Monetary Authority and the Central Bank of Kazakhstan, are conducting beta testing for their CBDC interoperability project, aimed at enabling CBDCs for cross-border payments. The first phase of the CBDC sandbox experiment involves 18 global financial institutions.

SWIFT stated that the second phase of the CBDC sandbox experiment is currently underway, with 30 financial institutions testing the solution, including the Reserve Bank of Australia, Deutsche Bundesbank, the Monetary Authority of Singapore, and the Bank of Thailand.

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