UK, Singapore, and Thailand Central Banks Complete Tokenized FX Settlement Trial
(2 hours ago) · 1 source · Summarized by CryptoBipto
The central banks of the United Kingdom, Singapore, and Thailand have completed a joint trial for foreign exchange settlement that links traditional financial systems with tokenized infrastructure. The project tested how cross-border currency transactions could be settled using a combination of conventional and blockchain-based systems.
WHY IT MATTERS
When you send money to someone in another country, the transaction often passes through multiple banks and can take days to settle.
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SOURCES
- theblock.co
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