SWIFT, the bank and payments interconnection cooperative, is working to bring its services to the upcoming group of central bank digital currencies (CBDC).
The experiments that SWIFT is performing, in partnership with Capgemini, a digital services company, are testing the ability of these new currencies to be exchanged among different systems not designed to perform such functions.
While the inner workings of the system in place have not been explained to the public, SWIFT clarifies that part of the already existent payments infrastructure is being reused, including existing bank messaging standards and authentication models, ISO 20022, and SWIFT’s private key infrastructure.So far, the experiments, which use several decentralized ledger platforms, such as Corda and Quorum, show it could be possible to achieve the goals proposed.
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