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Today’s Landscape CBDC Pilots and Proofs Wholesale CBDCs: for InterbankSettlement Central banks in China, Singapore, and the UAE are testing token-based CBDCs among regulated banks to net-settle large-value transfers instantly and irreversibly on distributed ledgers. CFOs use ESG flags in payment rails to optimize capital charges.
There is no dearth of faster payments initiatives — and no certainty that there will be one faster payments scheme to rule them all. The overall goal has been to design and implement a way to eliminate the three-day settlement program for checks to clear and provide immediate access to funds. Looking Toward Interoperability And Scale
Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.
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