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SWIFT planning launch of new central bank digital currency platform in 12-24 months

March 28th, 2024
Categories: News

Link: https://www.reuters.com/business/finance/swift-planning-launch-new-central-bank-digital-currency-platform-12-24-months-2024-03-25/

SWIFT planning launch of new central bank digital currency platform in 12-24 months | Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system, it has told Reuters. The move, which would be one of the most significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be fine-tuned to when the first major ones are launched. SWIFT's head of innovation, Nick Kerigan, said its latest trial, which took six months and involved a 38-member group of central banks, commercial banks and settlement platforms, had been one of the largest global collaborations on CBDCs and "tokenised" assets to date.

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