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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...

Several top banks around the world are already collaborating with Chainlink to explore applications for the Cross-Chain Interoperability Protocol. The development firm behind the Chainlink protocol and its native LINK token has gone live with its cross- chain protocol , aimed at providing interoperability between traditional financial firms and both public and private block chain s. In a July 17 post on the Chainlink blog, Chainlink  Labs' Chief Product Officer Kemal El Moujahid announced that its Cross-Chain Interoperability Protocol (CCIP) has launch ed under early access on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. Developers on these platforms will have access to CCIP on their respective testnets on July 20. 1/ The Chainlink Cross-Chain Interoperability Protocol (CCIP) has officially launched on Avalanche, Ethereum, Optimism, and Polygon mainnets.#LinkTheWorld pic.twitter.com/SdLVyaapg3 — Chainlink (@chainlink) July 17, 2023 CCIP is an interoperability protoco...