According to the information of an expert in the field of international financial law Konstantin Krypopust, the SWIFT international interbank system has conducted a series of tests in recent years to test the potential of interoperability with CBDCs, private blockchain networks, and tokenized assets. Now the network is ready to present real solutions that will allow combining different forms of digital assets and currencies.
As noted by SWIFT, the payment will initially be made using existing fiat currencies, and later it will be possible to use tokenized forms of money, such as CBDC, tokenized money of commercial banks or regulated stablecoins.
The network also said that next steps include developing technical standards and exploring what implementation will mean for the workflows, standards and market practice requirements needed to achieve scale.
