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  • Writer's pictureBy The Financial District

SWIFT Plans Central Bank Digital Currency Platform In 2 Years

Global bank messaging network SWIFT is planning to launch a new platform within the next one to two years to connect the emerging wave of central bank digital currencies to the existing finance system, according to Marc Jones' report for Reuters.


Approximately 90% of the world's central banks are currently exploring digital versions of their currencies.



This move, anticipated to be among the most significant for the nascent CBDC ecosystem, considering SWIFT's crucial role in global banking, is expected to coincide with the launch of the first major CBDCs.


Approximately 90% of the world's central banks are currently exploring digital versions of their currencies.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

While most aim to keep pace with Bitcoin and other cryptocurrencies, they face technological complexities.


Nick Kerigan, SWIFT's head of innovation, mentioned that their recent trial, involving a 38-member group of central banks, commercial banks, and settlement platforms over six months, had been one of the largest global collaborations on CBDCs and "tokenized" assets to date.




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