Swift tests show cross-border digital currency potential
Findings from the second phase of Swift’s industry-wide sandbox testing on its central bank digital currency interlinking solution for cross-border payments have received a provisional industry welcome.Swift said the results of the tests, which concluded last month, show the potential to simplify and speed up trade flows, unlock growth in tokenised securities markets and enable efficient foreign exchange settlement.The financial messaging provider ran its first sandbox in 2022 involving 18 central and commercial banks and reported back the following March. “The results of that first sandbox were that participants saw...