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Deutsche Financial institution and Customary Chartered’s SC Ventures are testing a system that may enable blockchain-based transactions, stablecoins, and central financial institution digital currencies (CBDCs) to speak to 1 one other, taking an method just like the SWIFT messaging layer in legacy banking infrastructure. The banks are working a sequence of take a look at instances, together with transferring and swapping USDC stablecoins, on the Common Digital Funds Community (UDPN), a permissioned blockchain system composed of validator nodes run by an alliance of banks, monetary establishments and consultancies. The system, created by tech consultancy GFT Group and Purple Date Know-how, the co-founder of the Chinese language Blockchain-Primarily based Service Community (BSN), instructs and permits transactions to happen throughout a spectrum of networks, starting from stablecoins on public blockchains to CBDCs.
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