SWIFT announced today that in collaboration with Capgemini, they are conducting new experiments to test how we can interlink domestic CBDCs and take the next step towards seamless cross-border payments involving digital currencies. They will both explore how SWIFT can interlink the multiple domestic-based #CBDC networks emerging worldwide to make cross-border payments with #DigitalCurrencies more seamless & frictionless.
Not to long ago, back in October of 2021, Capgemini did a reporter in Business Insider India speaking about Ripple. Capgemini says nearly half the world will be using cryptocurrencies to send money in the next two years — a revolution led by remittances.
“Companies like Ripple and its XRP protocol are already being touted as the next phase of transformation in the global remittance service market. “Platforms like Ripple have the potential to reduce settlement times (from days to seconds) and provide savings,” noted global financial services behemoth Credit Suisse.
Evidence of this was already seen during the pandemic. According to the Asian Development Bank ( ADB), the use of services like Ripple, Mobile Money and bKash helped deliver faster settlement, greater operational efficiencies and more competitive foreign exchange rates during the COVID-19 pandemic.”
It is only a matter of time.
We’re collaborating with @Capgemini to explore how SWIFT can interlink the multiple domestic-based #CBDC networks emerging worldwide to make cross-border payments with #DigitalCurrencies more seamless & frictionless.
— SWIFT (@swiftcommunity) May 19, 2022