Three Central Banks Join SWIFT's Beta Program for CBDC Interoperability

Three Central Banks Join SWIFT's Beta Program for CBDC Interoperability



The banks communication network has made improvements in its transaction speed and is actively exploring technologies to integrate Central Bank Digital Currencies (CBDCs). On September 13 SWIFT, the banking messaging platform announced that three central banks have joined its beta program aimed at ensuring compatibility between different CBDCs. Moreover SWIFT has entered a phase of experimental testing.



The Central Bank of Kazakhstan the Hong Kong Monetary Authority and an undisclosed third central bank have established connections with SWIFTs CBDC interface for experimentation purposes.



The initial stage of this phase began in March and involved over 18 entities such as the Royal Bank of Canada Deutsche Bundesbank and HSBC among others. Throughout this period than 5,000 transactions were successfully processed within a span of


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#Blockchain, #CBDC, #CentralBank, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #HongKong, #SWIFT

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