Central banks of England, Thailand and Singapore to explore synchronised FX settlement
The project builds on insights gained from a Bank for International Settlements-led initiative – Project Meridian – that successfully demonstrated how wholesale payment infrastructures, such as RTGS systems, can interoperate with each other for FX transactions via new technologies, such as distributed ledgers.
For the current trials, the experiments will leverage simulated versions of participating central banks’ RTGS systems and distributed ledger technology-based settlement environments to test interoperability across a number of complex use cases involving different types of settlement infrastructure.
