SWIFT flips the script and set up a joint venture with the Chinese central bank’s digital currency research institute and clearing center.
So the Global Financial Giant SWIFT signed a joint venture with the Chinese central bank’s digital currency research institute and clearing center. Recall SWIFT is the defacto global cross border and financial messaging system.
As released in a Reuters report from earlier today revealed "has set up a joint venture with the Chinese central bank’s digital currency research institute and clearing centre, in a sign that China is exploring global use of its planned digital yuan.", in a sign that China is exploring global use of its planned digital yuan."
Why now? Seems SWIFT has been testing the CBDC integration for a full year now, so perhaps the use of 'exploring' is a misleading on purpose. The crucial Chinese Regulators were involved all along. No surprise to me China is leading the efforts in ISO20022 adoption (Not sure what ISO 20022 is? check my previous blog entries ISO https://www.publish0x.com/new-to-cryptos/is-iso-20022-a-replacement-for-swift-xpnpjep
& https://www.publish0x.com/new-to-cryptos/bank-for-international-settlements-aka-bis-take-on-digital-c-xjmdxrj
Which is a Universal Transaction Standard with a Go Live date in 2022. I look for China to beat everyone with a go live this year ('21).
Summary so a HUGE shift towards CBDC adoption by the antiquated SWIFT bodes well to all those piling into Crypto's...ahead of the Financial Wall of Money we are all anticipating. Perhaps this Gorilla can dance. Crypto space is getting VERY interesting folks.
