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The Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand today published the findings from their collaboration on foreign exchange (FX) settlement under Project Meridian FX APAC. footnote [1] The project showed that synchronisation – a service that coordinates movements of central bank money – could be one approach to supporting interoperability across wholesale settlement environments built on different technologies and operating models. This marks significant progress in making cross-border FX transactions safer and more efficient, and supporting interoperability as different forms of money evolve in different ways.
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