Atomic settlement: a solution to cross-border payment woes?
Experts say simultaneous settlement has the potential to improve cross-border frictions – so why are central banks lukewarm?
Cross-border payments are viewed as a weak point in the global financial system, making them a key area marked out for improvement by the G20. In a blog post published by the University of Oxford in June, senior lecturer at Western Sydney University’s School of Law Christian Chamorro-Courtland said they are “often slow, costly, opaque and legally complex” – especially wholesale payments.
When it comes to innovation and improvement, distributed ledger technology (DLT) and its ability to bring
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