1/20/23
“UNIVERSAL DIGITAL PAYMENTS NETWORK FOR STABLECOINS AND CBDCS LAUNCHES AT DAVOS”
Maranatha! 😊
Oh good......
UNIVERSAL DIGITAL PAYMENTS NETWORK FOR STABLECOINS AND CBDCS LAUNCHES AT DAVOS
Payments 20.01.2023 12:55 pm
Universal Digital Payments Network for Stablecoins and CBDCs Launches at Davos
A Universal Digital Payments Network (UDPN) for stablecoins and Central Bank Digital Currencies (CBDCs) was launched at the World Economic Forum (WEF) in Davos. The network aims to provide interoperability between these digital currencies.
USPN has been in development for the last two years with contributions from GFT, Red Date Technology, TOKO, and DLA Piper. A sandbox was launched in July of 2022, where multiple banks were actively testing stablecoin transfer and FX transactions.
The network was launched at Davos with a panel discussing the rapidly evolving digital currency, interoperability, and infrastructure. The panel included representatives from Deutsche Bank, HSBC, Standard Chartered, The Bank of East Asia, and Akbank.