Conversations regarding the reduction of local financial settlement periods over the upcoming five years have captured the attention of numerous securities firms, with many of them considering the utilization of central bank digital currencies (CBDCs).

In its latest release of the Securities Services Evolution white paper, prominent banking institution Citi emphasized India's recent achievement in implementing T+1 settlements. This advancement ensures the completion of all trade-related settlements within 24 hours of a transaction. As countries like the United States, Canada, and other leading economies intensify their endeavors to shift towards T+1 settlement cycles, Citi's survey assesses the significance of distributed ledger technology (DLT), CBDCs, and stablecoins in facilitating this transition.