Completion of SWIFT’s “Digital Island Connection” Sandbox Experiments in Trade, Securities, and Foreign Exchange, with Taiwan’s Participation

Global cross-border payment transmission system leader SWIFT has actively embraced blockchain technology in recent years to “connect digital islands” and facilitate seamless integration of central bank digital currencies (CBDCs) on different platforms. SWIFT has stated that it has successfully completed the second phase of sandbox testing for interconnectivity solutions for central bank digital currencies (CBDCs) in collaboration with 38 institutions worldwide, including the Central Bank of Taiwan and local banks.