Central banks of Sweden, Norway and Israel to test digital currency payments

CTOnews.com, Sept. 28 (Reuters)-the central banks of Sweden, Norway and Israel have launched a project with the Bank for International Settlements to test the use of central bank digital currencies for international retail and remittance payments, the Swedish central bank said on Wednesday.

In June last year, the Swiss and French central banks began experimenting with Europe's first cross-border central bank digital currency payment service. Through the "synchronous settlement" settlement mechanism, the euro wholesale CBDC is exchanged with the Swiss franc wholesale CBDC. The transactions will be settled between banks in France and Switzerland.

In November last year, a consortium of 74 enterprises and groups, including large Japanese banks and the NTT Group, announced that they would make digital money practical as early as the second half of 2022. The use of blockchain technology to achieve 24-hour trading and real-time settlement in principle.

China is also testing digital RMB projects. Digital RMB (pilot version) App is the official service platform for individual users, which is China's legal digital currency-digital RMB. It provides services for the opening and management of digital RMB personal wallets, and for the exchange and circulation of digital RMB. CTOnews.com learned that Digital RMB will carry out R & D pilot projects in pilot areas and pilot scenarios, and pilot customers can register for Digital RMB App.