Swift and CapGemini Work on CBDC Gateway to Existing Payment Networks

Jun 02, 2022

Swift and CapGemini Work on CBDC Gateway to Existing Payment Networks

As more countries explore issuing their own digital currencies, there is a greater need for a mechanism to seamlessly integrate these domestic-based networks. Swift, the interbank messaging network, is working with Capgemini to figure out how to successfully combine these various CBDC network technologies, allowing for seamless cross-border payment processes.

In a recent experiment in the previous year, in a world first, Swift has successfully completed a cross-border transaction between one entity on a DLT-based CBDC network and another on a well-established real-time gross settlement (RTGS) system. This is a significant achievement for both Swift and the wider adoption of CBDCs.

In a move to assess the feasibility of using Swift to interlink different CBDC platforms,this time the company is collaborating with Capgemini on trials. This would allow existing payment systems to interact with a variety of different technologies used for CBDCs.

Thomas Zschach, chief innovation officer at Swift, believes that facilitating interoperability and interlinking between different CBDCs is critical to realizing their potential. He argues that the current global CBDC ecosystem risks fragmentation due to the many different technologies, standards, and protocols being used by various central banks.

Also in a recent interview, Nick Kerigan, head of innovation at Swift, warned that the fragmentation of the digital world could lead to the formation of "digital islands." If left unaddressed, this could have serious consequences for global connectivity and trade. The challenge is to set up the process so that every part works without interruption like the clockwork, whether it's the payments system or the CBDC.

So that leads to that Kerrigan's new proof-of-concept will seek to demonstrate the ability to construct a gateway on a domestic CBDC network to intercept fluid transactions without any issues, translate them, and pass them to the Swift platform for further transmission. This would allow for communication and interoperability between CBDC networks and existing payment systems.

"While CBDCs have several potential, we see few broad hurdles to their acceptance that must first be solved," he stated. "First, in addition to the existing conventional payment systems, other CBDC platforms will be developed and that CBDC and conventional infrastructures will have to coexist and collaborate for some time."

Subscribe Our Newsletter

VW Aims to Launch Scout, an EV Off-Roading Brand
VW Aims to Launch Scout, an EV Off-Roading Brand

Volkswagen Group is preparing to launch Scout, a new specialized EV business that will create an all-electric truck and a tough off-roading SUV for the American market. The business intends to build a rugged SUV and pickup truck by 2026.

Companies
MicroStrategy Continues Bitcoin Investments Despite Falling Stock Prices

Tamta

MicroStrategy Continues Bitcoin Investments Despite Falling Stock Prices

MicroStrategy remains committed to Bitcoin investments, acquiring more despite falling stock prices and an increasingly intertwined financial future.

Crypto
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Alexander

What Is a Node in Cryptocurrency?
A node is a fundamental component in any blockchain ecosystem that helps maintain its decentralisation. So, what is a node in crypto, and what are their types?

discover
what is liquidity of bitcoin

Constantine

The Liquidity of Bitcoin and the Factors That Affect It

Learn what bitcoin liquidity is, what factors affect it, and how it differs from the liquidity of other financial assets.

Liquidity
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap

    Vitaliy

    Triangle Patterns in Trading: Mastering Ascending, Descending & Symmetrical Strategies for Maximum Profit

    Triangle Patterns in Trading: Ascending, Descending & Symmetrical Guide

    Alexander

    What Is COTI? Payments, Token & Price Prediction

    What is a COTI coin

    Constantine

    Best Copy Trading Software in 2025

    Best Copy Trading Software in 2025

    Alex

    What Is an AI Agent? The Future of Finance Explained

    AI Agent Explained

    Constantine

    How to Start a Liquidity Provider Business?

    How to Start a Liquidity Provider Business

    Constantine

    How to Start a White Label Brokerage?

    How to start a white label brokerage

    Constantine

    How to Start a Multi-Asset Brokerage?

    How to Start a Multi-Asset Brokerage

    Hazem

    Crypto Ransomware – How They Happen and How to Avoid Them

    Crypto ransomware explained

    Constantine

    Best Web3 Browsers in 2025

    Best Web3 Browsers

    Constantine

    Best DAO Projects in 2025

    Best DAO projects in 2025

    Alexander

    Crypto Nodes That Pay: Your 2025 Guide to Top Passive Income Opportunities in Crypto

    crypto nodes that pay

    Alex

    Pi Network: Scam or Groundbreaking Crypto? The Full Analysis

    Pi Network Explained

    Constantine

    Triple Net Lease: Meaning, Benefits, and Strategies Explained

    Triple Net Lease

    Constantine

    Hanging Man Pattern: How to Identify and Trade It Effectively

    Hanging Man Pattern

    Alex

    5 Infinite Banking Mistakes That Could Cost You Thousands

    Infinite Banking Mistakes to Avoid

    Aleksander

    Solana Firedancer: Solving Solana’s Biggest Problems with a New Engine

    Solana Firedancer explained

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.