BIS and BoE launch project to simplify FX transactions

Project Meridian FX seeks to link RTGS and DLT systems

The Bank for International Settlements

The Bank for International Settlements (BIS) and the Bank of England (BoE) launched a new project to simplify foreign exchange transactions, they announced on June 14.

The “Project Meridian FX” trial will use a “synchronisation operator”, which orchestrates the settlement process interlinking ledgers, keeping all parties to the transaction updated. It aims to interlink real-time gross settlement (RTGS) systems with other payment technologies like distributed ledger technology (DLT).

The BIS said

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