Central banks test a bridge between traditional and tokenized settlement
The Bank of England, Monetary Authority of Singapore and Bank of Thailand published Project Meridian FX APAC findings on 13 November, with Partior as technical partner.
The experiments linked simulated traditional payment and distributed-ledger settlement systems. Payment-versus-payment means one currency transfer is conditional on the other, reducing the risk of paying without receiving the corresponding currency.
The project also tested multilateral netting: offsetting eligible payments across participants to potentially reduce the liquidity needed for settlement.
These were non-live simulations. Live operating conditions still need testing. The Bank of England plans a live synchronisation interface in 2028; this is not a shared launch commitment by all three central banks.
#Tokenization #crossborderpayment #banks
The Bank of England, Monetary Authority of Singapore and Bank of Thailand published Project Meridian FX APAC findings on 13 November, with Partior as technical partner.
The experiments linked simulated traditional payment and distributed-ledger settlement systems. Payment-versus-payment means one currency transfer is conditional on the other, reducing the risk of paying without receiving the corresponding currency.
The project also tested multilateral netting: offsetting eligible payments across participants to potentially reduce the liquidity needed for settlement.
These were non-live simulations. Live operating conditions still need testing. The Bank of England plans a live synchronisation interface in 2028; this is not a shared launch commitment by all three central banks.
#Tokenization #crossborderpayment #banks
