Different central bank digital currencies (CBDCs) have been connected to current fiat payment systems in a pilot test by SWIFT. The testing revealed that Swift’s test interlinking solution can satisfy central and commercial banks’ requirements for CBDC interoperability, ensuring CBDCs can be used successfully in cross-border transactions. Over 110 central banks are currently looking into the use cases of CBDCs, and the OMFIF Digital Monetary Institute anticipates that 24% of central banks will develop a CBDC solution within the next two years.
SWIFT moves to next phase of CBDC testing after positive results
