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SWIFT’s CBDC Interconnect Project to Enter Second Phase

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It is reported that SWIFT said in a statement on Thursday that a project operated by the company to interconnect the central bank digital currency (CBDC) has \”o

SWIFTs CBDC Interconnect Project to Enter Second Phase

It is reported that SWIFT said in a statement on Thursday that a project operated by the company to interconnect the central bank digital currency (CBDC) has “obvious potential and value”. The project includes banks such as BNP, Intesa Sanpaolo (ISP) and Standard Chartered Bank (STAN), as well as the central banks of France and Singapore. Now it will enter the second stage and may study other applications such as trade financing and securities settlement. SWIFT said that it would continue to carry out beta testing in the next few months and start the second phase of research on applications such as conditional payment.

SWIFT will launch the second phase pilot after finding “value” in CBDC

Analysis based on this information:


The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has reported that its project to interconnect central bank digital currencies (CBDCs) has “obvious potential and value”. Banks such as BNP, Intesa Sanpaolo, and Standard Chartered Bank, as well as the central banks of France and Singapore, are part of the project, which is now entering its second phase. The project aims to study CBDC applications beyond basic interconnectivity, such as trade financing and securities settlement.

This development is significant because it highlights how traditional financial institutions such as SWIFT are adapting to the rise of digital currencies, which are seen by some as a threat to the traditional financial system. By participating in the development of CBDCs, SWIFT is looking to play a crucial role in shaping the future of digital finance.

The fact that SWIFT has emphasized the “obvious potential and value” of the CBDC interconnect project is a strong indication that such digital currencies are likely to play a significant role in the future of financial transactions. SWIFT’s involvement also suggests that traditional financial institutions may be more open to integrating CBDCs into their existing systems than previously thought.

However, the project is still in the testing phase and it remains to be seen how successful it will be on a large scale. Given the complexity of CBDC networks and the need for interoperability between different digital currencies, there are significant challenges to be overcome before CBDCs can become mainstream.

Overall, SWIFT’s project to interconnect CBDCs is an important milestone in the digital finance revolution. It shows that traditional financial institutions are taking the rise of digital currencies seriously and are actively seeking to integrate them into their existing systems. It also highlights the potential for CBDCs to revolutionize the way financial transactions are conducted, particularly in the areas of trade financing and securities settlement.

In summary, the CBDC interconnect project represents a significant development in the world of digital finance, with SWIFT playing a crucial role in shaping the future of CBDC adoption.

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