{"id":46467,"date":"2023-03-10T07:41:06","date_gmt":"2023-03-10T11:41:06","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=46467"},"modified":"2023-03-10T07:41:09","modified_gmt":"2023-03-10T11:41:09","slug":"swift-launches-second-phase-of-its-cbdc-pilot-program","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/swift-launches-second-phase-of-its-cbdc-pilot-program\/","title":{"rendered":"Swift Launches Second Phase Of Its CBDC Pilot Program"},"content":{"rendered":"\n

Swift's phase two CBDC pilot study will explore the benefits and challenges of integrating digital currencies<\/a> with its platform.<\/p>\n\n\n\n

\"Swift
Swift Launches Second Phase Of Its CBDC Pilot Program<\/figcaption><\/figure>\n\n\n\n

Following the encouraging outcomes from the first phase, Swift, a well-known financial messaging network, has announced preparations to start its phase two pilot program. <\/p>\n\n\n\n

The pilot program's goal is to evaluate potential use cases for Swift's platform's central bank digital currency <\/a> (CBDCs).Swift said that the pilot's initial results showed that CBDCs can lower costs while increasing cross-border payment speed and efficiency. <\/p>\n\n\n\n

The pilot also revealed the requirement for CBDCs issued by several central banks to cooperate with one another in order to enable smooth transactions.<\/p>\n\n\n\n

The second stage of the pilot will examine the compatibility of Swift's platform with CBDCs and look into the possibility of interoperability between them. <\/p>\n\n\n\n

The pilot program will also try to address additional issues like reducing dangers related to CBDCs and complying with legal obligations. Swift's entry into CBDCs is a reflection of how central banks all around the world are becoming more interested in and using digital currencies. <\/p>\n\n\n\n

The usage of CBDCs is viewed as a way to update financial infrastructure, increase financial inclusion, and perhaps even provide a mechanism to overcome the difficulties associated with conventional cross-border payments\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Due to the widespread usage of Swift's platform by banks and financial institutions worldwide, the outcome of Swift's pilot program might have a substantial impact on the adoption and integration of CBDCs into the global financial system.<\/p>\n","protected":false},"excerpt":{"rendered":"

Swift’s phase two CBDC pilot study will explore the benefits and challenges of integrating digital currencies with its platform. Following the encouraging outcomes from the first phase, Swift, a well-known financial messaging network, has announced preparations to start its phase two pilot program. The pilot program’s goal is to evaluate potential use cases for Swift’s […]<\/p>\n","protected":false},"author":43,"featured_media":46469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[773,13721],"class_list":["post-46467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cbdc","tag-swift-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/03\/croc_1678395524365.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=46467"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/46469"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=46467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=46467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=46467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}