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s central bank announced on Thursday (July 30) that it has hired IT firm Accenture to revamp and modernize what is known as the Real-TimeGrossSettlement (RTGS) service, which handles daily transactions worth more than $895 million between large financial institutions (FIs).
Thailand, under the guidance of the Bank of Thailand (BOT) , has been at the forefront of this movement, continuously studying and testing the feasibility of a Retail CBDC since 2018. The project evolved, incorporating enhanced functionalities, cross-border fund transfers, and a Corporate CBDC Pilot Program.
Institutions that are not fully prepared risk being locked out of clearing and settlement infrastructure, impacting both operational resilience and client service delivery. by 2027) The UK is preparing to transition its standard securities settlement cycle from T+2 to T+1, with implementation scheduled for 11 October 2027.
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