UK, Singapore, and Thailand central banks test cross-border FX settlement using blockchain
Source Summary
The UK, Singapore, and Thailand central banks demonstrated Project Meridian FX APAC, which coordinates foreign exchange transactions across conventional settlement systems and blockchain-based platforms. The test showed how cross-border FX settlement can integrate both traditional and distributed ledger technology infrastructure.
Why it matters
Central bank collaboration on blockchain-based cross-border settlement demonstrates progress toward more efficient international payment infrastructure as stablecoins and digital currencies gain adoption.
