SWIFT Partners Capgemini for CBDC Experimentation
(27 May 2022 – Global) Interbank payments protocol and messaging system SWIFT has announced it is partnering Capgemini to connect disparate central bank digital currency (CBDC) protocols currently in development.
SWIFT is already in advanced stages of running experiments with decentralized platforms to ensure that remittances and cross-border payments will be available for users of these currencies in the future.
The experiments that SWIFT is performing in partnership with digital services company Capgemini are testing the ability of these new currencies to be exchanged among different systems not designed to perform such functions. SWIFT also revealed plans for including other types of crypto assets in its network as they become regulated at a global level.
“Different systems and different CBDCs will need to be able to efficiently work together, or it will hamper the ability of businesses and consumers to make frictionless cross-border payments using CBDCs” commented SWIFT Head of Innovation, Nick Kerigan.
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