UK, Singapore, and Thailand central banks test cross-border FX settlement as stablecoins gain ground
Summary
Central banks from the United Kingdom, Singapore, and Thailand have successfully tested a new cross-border foreign exchange settlement project. The initiative explored ways to coordinate financial transactions between traditional settlement systems and modern blockchain platforms as stablecoins become increasingly popular.
Project Meridian FX APAC said it demonstrated how transactions can be coordinated across conventional settlement systems and those built using blockchain technology.
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