Inside Innovation Live 04 - CBDCs: Designing for global access and interoperability | Swift

Live broadcast: 19 October 2022
While much of the focus on Central Bank Digital Currencies (CBDCs) has been on how they could help achieve domestic policy goals, so far less attention has been paid to their use cross-border. For CBDCs to be used in international payments, the numerous CBDC networks currently in development will need to seamlessly interoperate with each other and with existing payments systems.
Serious efforts are being made to achieve global interoperability, with the Bank for International Settlements (BIS) Innovation Hub, central banks, Swift and commercial banks all involved in various proofs of concept and experiments aimed at solving this very challenge. At the same time, central banks have to make critical choices about the cross-border access granted to foreign payment service providers and non-residents.
In this session, Nick Kerigan, Swift’s Head of Innovation joined by Anneke Kosse, Senior Economist at the BIS discussing about the recent joint report ‘Options for access to and interoperability of CBDCs for cross-border payments’ published by the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI), the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank.
Watch this video as we examine the steps central banks and the financial industry need to take to achieve global access and interoperability for CBDCs.
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