Swift's Bold Step into Digital Currency: Live Trials for International Payments
Thursday, 3 October 2024, 01:35
Swift's Initiative for Digital Currency Trials
Swift announced today that it will conduct live trials starting in 2025. These tests will focus on international payments including central bank digital currencies, tokenized deposits, and regulated digital assets. By exploring these innovations, Swift aims to improve transaction processes in the foreign exchange market.
Key Features of the Trials
- Enhanced Security: Incorporating digital currency brings an element of security to the payment processes.
- Speed and Efficiency: The trials will showcase faster processing times.
- Testing of multiple digital assets: Including CBDCs and tokenized forms of currency.
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