Bank of England and Asian Central Banks Test Linked Foreign Exchange Settlement
(3 hours ago) · 1 source · Summarized by CryptoBipto
The Bank of England and several Asian central banks have conducted a test of linked foreign exchange settlement systems. The trial explored how central bank digital infrastructure could be used to settle cross-border currency transactions more efficiently. Details on the specific Asian central banks involved and the technology used were part of the collaborative experiment.
WHY IT MATTERS
When you exchange money between countries — say, British pounds for Japanese yen — the process of actually completing that trade between banks is called settlement.
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SOURCES
- thedefiant.io
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