Swift has reported positive results from a pilot test of interconnecting transfers between different Central Bank Digital Currencies (CBDCs), giving potential and value to the development of their API-based CBDC connector. Participants agreed that the system enabled seamless exchange of CBDCs, even between those built on different platforms, a key development in the growth of CBDCs across the globe. The study covered 5,000 simulated transactions, in which 18 central and commercial banks participated. After the beta version, the second phase of sandbox testing will explore new use cases, including in securities settlement, trade finance, and conditional payments.
