{"id":2527,"date":"2023-03-13T12:08:12","date_gmt":"2023-03-13T12:08:12","guid":{"rendered":"https:\/\/boutiquevisionmedia.com\/?p=2527"},"modified":"2023-03-13T12:08:13","modified_gmt":"2023-03-13T12:08:13","slug":"banks-see-clear-potential-and-value-in-swifts-experimental-cbdc-connector-after-sandbox-collaboration","status":"publish","type":"post","link":"https:\/\/boutiquevisionmedia.com\/?p=2527","title":{"rendered":"Banks see \u201cclear potential and value\u201d in Swift\u2019s experimental CBDC connector after sandbox collaboration"},"content":{"rendered":"\n<p>An announcement from SWIFT on its experimental solution for Central Banks Digital Currencies and how to move CBDC-to-CBDC and CBDC-to-fiat seamlessly, in international transactions, on existing financial infrastructure across more than 200 countries. Swift is looking at developing a financial ecosystem in which digital and traditional currencies co-exist. Interoperability is a key strategic focus for Swift, and a key challenge for the financial industry as digital currencies develop.<\/p>\n\n\n\n<p>18 central and commercial banks which took part in the initiative are encouraging continued development, following experiments that involved nearly 5,000 CBDC-to-CBDC and CBDC-to-fiat simulations over a 12-week period. Central and commercial bank participants expressed strong support for the solution\u2019s continued development, noting that it enabled seamless exchange of CBDCs, even those built on different platforms.<\/p>\n\n\n\n<p>Swift will now build a beta version&nbsp;of the solution for payments that can be tested further by central banks.&nbsp;It will also explore additional use cases in securities settlement and trade finance; a&nbsp;second phase of sandbox testing will be held, in which the Swift community can collaborate further with a focus on new use cases, including in securities settlement (such as cross-asset exchange), trade finance, and conditional payments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An announcement from SWIFT on its experimental solution for Central Banks Digital Currencies and how to move CBDC-to-CBDC and CBDC-to-fiat seamlessly, in international transactions, on existing financial infrastructure across more than 200 countries. Swift is looking at developing a financial ecosystem in which digital and traditional currencies co-exist. Interoperability is a key strategic focus for Swift, and a key challenge for the financial industry as digital currencies develop. 18 central and commercial banks which took part in the initiative are [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":2528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[],"class_list":["post-2527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-and-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banks see \u201cclear potential and value\u201d in Swift\u2019s experimental CBDC connector after sandbox collaboration - Boutique Vision Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/boutiquevisionmedia.com\/?p=2527\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks see \u201cclear potential and value\u201d in Swift\u2019s experimental CBDC connector after sandbox collaboration - Boutique Vision Media\" \/>\n<meta property=\"og:description\" content=\"An announcement from SWIFT on its experimental solution for Central Banks Digital Currencies and how to move CBDC-to-CBDC and CBDC-to-fiat seamlessly, in international transactions, on existing financial infrastructure across more than 200 countries. Swift is looking at developing a financial ecosystem in which digital and traditional currencies co-exist. Interoperability is a key strategic focus for Swift, and a key challenge for the financial industry as digital currencies develop. 18 central and commercial banks which took part in the initiative are [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/boutiquevisionmedia.com\/?p=2527\" \/>\n<meta property=\"og:site_name\" content=\"Boutique Vision Media\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-13T12:08:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-13T12:08:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/boutiquevisionmedia.com\/wp-content\/uploads\/2023\/03\/cbdc-central-bank-digital-currency-600w-2042430212.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/boutiquevisionmedia.com\/?p=2527#article\",\"isPartOf\":{\"@id\":\"https:\/\/boutiquevisionmedia.com\/?p=2527\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/boutiquevisionmedia.com\/#\/schema\/person\/444ac214aece130a539451dafe742e34\"},\"headline\":\"Banks see \u201cclear potential and value\u201d in Swift\u2019s experimental CBDC connector after sandbox collaboration\",\"datePublished\":\"2023-03-13T12:08:12+00:00\",\"dateModified\":\"2023-03-13T12:08:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/boutiquevisionmedia.com\/?p=2527\"},\"wordCount\":210,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/boutiquevisionmedia.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/boutiquevisionmedia.com\/?p=2527#primaryimage\"},\"thumbnailUrl\":\"https:\/\/boutiquevisionmedia.com\/wp-content\/uploads\/2023\/03\/cbdc-central-bank-digital-currency-600w-2042430212.webp\",\"articleSection\":[\"Banking and Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/boutiquevisionmedia.com\/?p=2527#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/boutiquevisionmedia.com\/?p=2527\",\"url\":\"https:\/\/boutiquevisionmedia.com\/?p=2527\",\"name\":\"Banks see \u201cclear potential and value\u201d in Swift\u2019s experimental CBDC connector after sandbox collaboration - 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