TradFi 🤝 DeFi. A Hong Kong-based blockchain company has launched a digital payments system aimed at bridging the gap between stablecoins and central bank digital currencies.
) platform that would serve a similar purpose to what the SWIFT network does for banks, except for stablecoins and CBDCs.
According to a Jan. 19 press release, a “number of global tier 1 banks” are already involved in use case proof of concepts to test the network in cross-border transfers and swaps. A high-level overview of the UDPN architecture depicting CBDC systems connecting to off-chain “transaction nodes” which in turn connect to the on-chain “validator nodes.” Source: UDPN white paper.
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