Bank of England and Two Other Central Banks Publish Results of Synchronized FX Settlement Pilot

深潮 TechFlow reported that on November 13, according to a Bank of England announcement, the Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand published the results of the Project Meridian FX APAC foreign exchange settlement pilot. The pilot conducted payment-versus-payment FX settlement and multilateral netting in the test environments of the three central banks, covering real-time gross settlement and distributed ledger systems.

The results showed that synchronized settlement can be achieved between central bank systems using different technologies and with different capabilities, while multilateral netting can also help banks improve liquidity efficiency by offsetting payments. The Bank of England plans to launch a formal synchronized interface in 2028.

Source: 深潮 TechFlow