SWIFT Completes Sandbox Experiments in Trade, Securities, and Foreign Exchange, with Taiwan’s Participation

Global cross-border payment system leader SWIFT has been actively embracing blockchain technology in recent years, helping different platforms’ central bank digital currencies (CBDCs) seamlessly connect by “connecting digital islands.” SWIFT has stated that it has successfully completed the second phase sandbox testing for the interconnection solution of central bank digital currencies (CBDCs) in cooperation with 38 institutions worldwide, including Taiwan’s central bank and banking industry.