Tom Zschach, chief innovation officer at Swift says that the success showed that the blockchain networks could be interlinked for cross-border payments through a single gateway, and that Swift’s new transaction management capabilities could orchestrate all inter-network communication.“For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway, ensuring the instant and smooth flow of cross-border payments," he says.14 central and commercial banks, including Banque de France, the Deutsche Bundesbank, HSBC, Intesa Sanpaolo, NatWest, SMBC, Standard Chartered, UBS and Wells Fargo, are now collaborating in a testing environment to accelerate the path to full scale deployment.As reported by Finextra yesterday, a seperate Swift-led pilot has also successfully implemented a common framework linking tokenisation systems between CSD’s and global custodians. Working in collaboration with Citi, Clearstream, Northern Trust, and technology partner SETL, Swift explored 70 scenarios simulating market issuance and secondary market transfers of tokenised bonds, equities and cash.
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