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SWIFT plans to launch new central bank digital currency platform in 12-24 months |

LONDON, March 25 (Reuters) – Global banking messaging network SWIFT is planning a new platform in the next year or two to connect the wave of developing central bank digital currencies with the existing financial system, it has said Reuters.

The move, which would be one of the most significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be adjusted when the first majors are launched.

About 90% of the world's central banks are exploring digital versions of their currencies. Most do not want to be left behind by bitcoin and other cryptocurrencies, but are struggling with technological complexities.

SWIFT's head of innovation, Nick Kerigan, said its latest trial, which took 6 months and involved a group of 38 members from central banks, commercial banks and settlement platforms, had been one of the col· largest global works on CBDC and “tokenized” assets to date.


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