SWIFT performs CDBC-focused tests

We have prepared dozens of articles on CBDC for you, and this topic is becoming more and more topical. We have recently received reports that the global service provider SWIFT is conducting CDBC-focused tests. With the recent growing interest in the central bank’s digital currencies in several countries, SWIFT has confirmed that it is testing cross-border CBDC-related transactions.

The statement further states that the banks currently testing the CBDC account for up to 90% of the total global GDP. Quite a few of them are in the late stages of testing, with 9 countries already using their digital currencies, such as Nigeria or the Bahamas. It will be interesting to watch this testing, as it is likely that SWIFT is striving for a unified system between countries.