SWIFT creates experiments with CBDC for various payments

SWIFT announced that it will be conducting a number of new experiments. They will be associated with cross-border payments using Central Bank cryptocurrencies. The directorate of this service, in collaboration with the information technology company Capgemini, is developing the integration of various networks. Therefore, it helps to implement new steps towards the formation of an improved version of cross-border payments using crypto-coins.

All payment systems cannot miss this trend. They have actively taken root in order to form the basis for working with Central Banks at the global level. The chief director of the SWIFT payment system said that thinking through the system in a more standard way remains a paramount goal.

“The key factor at the moment is the creation of a link between different Central Banks. Now the ecosystem has a fragmented state. This is due to the creation of various digital assets that rely on individual developments.”

SWIFT has been studying this area for a long time. Prior to this, the company had published its findings. The requirements and norms for digital assets were discussed there.

In general, SWIFT does not lose hope that integration with Central Banks will provide great benefits for this area.