The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced that it has successfully completed the first testing phase for Central Bank Digital Currency (CBDC) and is now moving to the next stage. The first testing phase was conducted with several banks from around the world and showed positive results. The next testing phase will involve a broader range of banks and explore the use of CBDCs in cross-border payments.
Bullet Points:
– SWIFT has completed the first phase of testing for Central Bank Digital Currency (CBDC)
– The tests were conducted with banks from around the world and showed positive results
– SWIFT is now moving to the next phase of testing, which will involve a broader range of banks
– This next phase of testing will explore the use of CBDCs in cross-border payments
Step-by-Step Process:
1. SWIFT conducts the first phase of testing for CBDC with a number of banks from around the world
2. The tests show positive results
3. SWIFT announces that it will move to the next phase of testing
4. This next phase of testing will involve a broader range of banks
5. Testing to explore the use of CBDCs in cross-border payments
6. SWIFT will analyze the results of the tests and determine further steps for implementing CBDCs.
Source: https://cointelegraph.com/news/swift-moves-to-next-phase-of-cbdc-testing-after-positive-results
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