The Bank of England, the Monetary Authority of Singapore and the Bank of Thailand presented the results of the Meridian FX APAC trial, which synchronises foreign exchange settlement between traditional systems and distributed ledgers. The prototype, developed by Partior, enables payment-versus-payment processing, so that if one leg fails, the entire transaction is cancelled. The three central banks tested insufficient funds, invalid account identifiers and temporary outages, followed by multilateral netting. They concluded that the technology is feasible, while stressing that legal finality, governance, regulatory supervision and data sharing remain unresolved.
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