The Bank of England and the central banks of Singapore and Thailand demonstrated how different types of infrastructure can be used to coordinate cross-border foreign exchange settlement. The Bank of England said Project Meridian FX APAC connects traditional settlement systems with blockchain-based systems without requiring all parties to adopt the same infrastructure. Tests covered payment-versus-payment settlement and multilateral netting to reduce settlement risk and liquidity requirements. The Bank of England plans to launch a real-time synchronisation interface in 2028, but commercial deployment will require further legal work, stronger regulatory oversight and broader participation.