SWIFT or the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a Belgian financial messaging service used by banks for international money transfers announced that they are teaming up to experiment with digital currencies from French central banks. This is SWIFT’s second research project on CBDC.

Capgemini and SWIFT are developing ways to connect multiple CBDC networks as well as traditional currencies networks. This is a proof-of-concept. The majority of central banks worldwide are working on creating CBDCs, “with numerous central banks developing their own digital currencies based on different technologies, standards and protocols,” Thomas Zschach, SWIFT chief innovation officer, Make a statement.