Ripple Faces New Challenge as Swift Advances CBDC Cross-Border Testing

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Is Ripple ready? Swift announces progress in testing CBDC use cross-border RippleXRP XRPArmy XRPcommunity XRPHolders $XRP XRP

Swift makes strides in testing cross-border CBDCs

This led to the development of its solution to enable CBDCs to move between DLT-based and fiat-based systems using existing financial infrastructure in October 2022.Swift says it has now tested the solution in a sandbox environment with 18 central and commercial banks, including the Banque de France, the Deutsche Bundesbank and the Monetary Authority of Singapore, among others.

An additional four central banks were observers without participating in the sandbox testing.AdsAdsFollowing positive feedback from the testing, the financial messaging giant says that in the coming months, it will develop a beta version of the solution for payments.

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