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Swift says it will test CBDC interoperability alongside three central banks to explore further use cases. Interbank messaging company Swift has entered the second phase of its sandbox experiments with a central bank digital currency (CBDC) as “interest in interoperability solution grows.” In a press release on Sept. 14, the banking network revealed that three central banks alongside 30 financial institutions will beta test Swift’s interlinking solution for CBDC. The document mentions that the Reserve Bank of Australia, Deutsche Bundesbank, the Hong Kong Monetary Authority (HKMA), Bank of Thailand, and CLS will participate in the experiment. You might also like: Swift concludes trial on blockchain interoperability and asset transfer They will explore new use cases for CBDC, including “trigger-based payments for digital trade platforms, foreign exchange models, delivery vs. payment and liquidity saving mechanisms.” Moreover, HKMA and the Nat...

Crypto holders can get synthetic exposure to Forex pairs directly on-chain thanks to decentralized leveraged trading platforms. Cryptocurrency volatility attracts a lot of traders looking to convert price fluctuations into profitable deals. Nevertheless, many traders still prefer to speculate on the price of traditional assets, mainly foreign exchange (forex) pairs. The daily turnover of the global forex market hit $7.5 trillion in April last year, according to data provided by the Bank for International Settlements (BIS), making it by far the largest market out there. Thanks to leveraged trading platforms, crypto enthusiasts can get synthetic exposure to this vast market directly on-chain. Some of these decentralized venues enable users to trade a wide range of asset classes, including crypto, forex, stocks, bonds and commodities. While the price moves of most Forex pairs pale in comparison to the wild fluctuations of crypto assets, traders can benefit from the leverage feature to mu...

Join Our Telegram channel to stay up to date on breaking news coverage 90% of Central Banks, according to Ripple, are currently actively creating their own CBDCs. The company thinks XRPLedger can provide Central Banks special advantages given how quickly the CBDC narrative is developing. The fact that the majority of Central Banks worldwide are collaborating with companies like Ripple to launch their own Central Bank Digital Currency is no longer news (CBDC). While the International Monetary Fund (IMF) once stated that over 110 Central Banks were at various stages of CBDC development, blockchain payments company Ripple Labs Inc. recently revealed that about 90% of Central Banks are actively involved in floating the digital version of the currency in its report titled CBDCs: The Future of Fiat. CBDCs are not a new invention, but they have been the subject of much media attention since China decided to move forward with the widespread retail testing of its Digital Yuan around 20...