[ad_1]
On Thursday, HSBC and IBM Announce Successfully tested the advanced token and digital wallet settlement between two central bank digital currencies or CBDCs in a cloud environment. The experiment includes transactions between CBDC, electronic bonds and foreign exchange. IBM’s Hyperledger Fabric and enterprise technology provider R3’s Corda serve as the basis for distributed ledgers to facilitate transactions.
The project is supervised by the central bank Banque de France as part of a series of installment projects for the implementation of the digital euro.Previously, France and the Swiss National Bank reported positive results of digital currency pilots Swiss Franc and EuroDespite this, the two financial institutions are still cautious about this issue on the grounds of regulatory concerns.
Mark Williamson, Managing Director of HSBC GFX eRisk, Partnerships and Proposals, said:
Interoperability between different distributed ledgers and technologies is the key to show how to save time, reduce market risk, and improve the security of transactions between central banks, commercial banks, and our global customers.
Likhit Wagle, general manager of IBM Global Banking and Financial Markets, added:
As central banks around the world begin to explore the potential of CBDC to bring greater transparency and security to financial transactions, the plan provides a comprehensive roadmap.
Worldwide, CBDCs are becoming more and more popular, partly because of their utility as a means to counter the rise of stablecoins. Among them, For some, Poses a threat to the financial system.This month alone, the Reserve Bank of Australia’s Project Atom CBDC study Found many benefits. At about the same time, the Central Bank of Kazakhstan reported that Positive result About its CBDC pilot project.Eastern Caribbean CBDC expanded to Two other countries, Russia is prioritizing the development of a Digital ruble.
[ad_2]
Source link
