{"id":449760,"date":"2022-05-19T23:00:00","date_gmt":"2022-05-19T20:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/swift-capgemini-team-up-to-test-using-the-international-network-for-cbdc-transfers\/"},"modified":"2022-05-19T23:00:00","modified_gmt":"2022-05-19T20:00:00","slug":"swift-capgemini-team-up-to-test-using-the-international-network-for-cbdc-transfers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/swift-capgemini-team-up-to-test-using-the-international-network-for-cbdc-transfers\/","title":{"rendered":"# SWIFT, Capgemini team up to test using the international network for CBDC transfers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28a3b4c9d8d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28a3b4c9d8d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/swift-capgemini-team-up-to-test-using-the-international-network-for-cbdc-transfers\/#%E2%80%9D_SWIFT_Capgemini_team_up_to_test_using_the_international_network_for_CBDC_transfers_%E2%80%9C\" >&#8221; SWIFT, Capgemini team up to test using the international network for CBDC transfers &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SWIFT_Capgemini_team_up_to_test_using_the_international_network_for_CBDC_transfers_%E2%80%9C\"><\/span>&#8221; SWIFT, Capgemini team up to test using the international network for CBDC transfers &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvOTlmYTFhM2MtMTZjYi00ZTEzLTk4YmYtYjZmODcxMjhmYWRmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, the Belgian financial messaging network used by banks in international money transfers, announced Thursday that it is teaming up with French IT company Capgemini to conduct experiments with cross-border central bank digital currency (CBDC) payments. This is SWIFT\u2019s second research project on CBDC.<\/p>\n<p>SWIFT and Capgemini are testing ways to link multiple CBDC networks, as well as CBDC and traditional currency networks, as a proof of concept. The majority of central banks worldwide are working on creating CBDCs, \u201cwith numerous central banks developing their own digital currencies based on different technologies, standards and protocols,\u201d Thomas Zschach, SWIFT chief innovation officer, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.swift.com\/news-events\/news\/new-experiments-pave-way-international-payments-using-cbdcs\">said<\/a> in a statement. <\/p>\n<p>According to the company\u2019s statement, it is developing a gateway for domestic CBDC networks to intercept, translate and forward them to the SWIFT platform for onward transmission. The system will use existing SWIFT standards, authentication models and infrastructure. SWIFT connects over 11,000 financial institutions in over 200 countries. <\/p>\n<p>SWIFT\u2019s new alliance is a continuation of the efforts begun last year with American professional services company Accenture. That collaboration succeeded in creating a cross-border transaction between a CBDC network and \u201can established real-time gross settlement (RTGS) system.\u201d<\/p>\n<blockquote><p>\u201cIf the experiments are successful, it will demonstrate that SWIFT has the capability and technical components to interlink different networks,\u201d<\/p><\/blockquote>\n<p>SWIFT head of innovation Nick Kerigan said. \u201cThis would help solve a huge <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and industry challenge facing CBDCs. And it could enable us to help central banks make their own CBDC networks cross-border payment ready.\u201d<\/p>\n<p><strong>Related: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"\">EU will cut off 7 Russian banks from SWIFT, with ordinary Russians facing consequences<\/a><\/strong><\/p>\n<p>SWIFT processed 42 million messages a day last year, but transactions on the network can take several days to complete. It is striving to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2022\/03\/07\/swift-sanctions-russia-ukraine-banking\/\">maintain<\/a> its relevance in the international economic order, especially in regard to CBDCs. Many developers foresee CBDCs interacting outside the traditional network, potentially with the aid of Ripple\u2019s (XRP).<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/swift-capgemini-team-up-to-test-using-the-international-network-for-cbdc-transfers\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SWIFT, Capgemini team up to test using the international network for CBDC transfers &#8220; The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, the Belgian financial messaging network used by banks in international money transfers, announced Thursday that it is teaming up with French IT company Capgemini to conduct experiments with cross-border central bank&#8230;<\/p>\n","protected":false},"author":1,"featured_media":449761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvOTlmYTFhM2MtMTZjYi00ZTEzLTk4YmYtYjZmODcxMjhmYWRmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75046,111891,82570,74355],"class_list":["post-449760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cbdc","tag-money-transfers","tag-swift","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=449760"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/449761"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=449760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=449760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=449760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}