SWIFT completes CBDC connector second trials
Participated by 38 institutions, results of the second trial of SWIFT's CBDC connector have been released, a project enabling CBDC systems to communicate via messaging.
Latest SWIFT News
Swift digital bill of lading solution moves forward with proof-of-concept completion
SWIFT announces completion of second eBL Proof-of-Concept with BNY Mellon and Deutsche Bank, aiming for industry-wide adoption through interoperability solutions.
Reserve Bank of India opens talks with US, Hong Kong for cross-border CBDC features
India is eyeing a collaboration with U.S. Federal Reserve and HKMA for cross-border CBDC functionality to enhance international remittances and accelerate digital rupee development.
Kazakhstan, Hong Kong join SWIFT’s CBDC interoperability beta test
The new beta test focuses on interlinking CBDCs to foster cross-border payments, while a second test with 30 banks tests trigger-based payments, foreign exchange models.
SWIFT taps Citi, BNY Mellon, other top banks for blockchain interoperability pilot
SWIFT’s experiment reportedly proved that its infrastructure can allow financial institutions to seamlessly tap into tokenization across multiple blockchains.
CBDCs could end SWIFT, Russia’s central bank executive says
First Deputy Governor of the Bank of Russia Olga Skorobogatova said the digital ruble project will advance in stages, modeled after China's digital yuan pilot.
Sanctions, Russia and ‘crypto crime’
After Russia invades Ukraine, sanctions are back on the agenda, and when it comes to getting around them, misuse of digital assets appears to be essential.
Universal digital payments network for stablecoins and CBDCs unveiled at Davos
Policymakers in Davos for the World Economic Forum (WEF) seized the opportunity to launch a payment network designed to encourage interoperability between stablecoins and CBDCs.
Binance’s wings clipped by Signature Bank, insider trading
Binance issued a statement explaining that Signature Bank advised that they will no longer "process SWIFT fiat (USD) transactions for individuals of less than 100,000 USD as of February 1st, 2023."
Singapore eyes blockchain-based payment for cross-border transactions
Ravi Menon noted that cross-border payments are blighted by several issues, the most significant being the speed of settling transactions and the high costs associated with remittances.
SWIFT makes significant progress in CBDC experiments, poised to flip cross-border payments
SWIFT's two experiments conducted in recent months proved that it was possible to move CBDCs on existing financial infrastructure.
Russia reconsiders stance on use of digital assets after past prohibitions
Following a barrage of sanctions and an ongoing row with the West, Russia is reportedly seeking to diversify its payment transactions with virtual currencies while mulling regulations to prevent misuse.