Major Central Banks Launch Multi-Nation Interoperable Digital Currency Pilot

LONDON — Eight major central banks have initiated live pilot testing of an interconnected settlement protocol designed to process international trade payments instantly without intermediary clearing corridors.

The system relies on cryptographic reserve tokens pegged directly to national currencies, reducing cross-border trade friction and lowering FX conversion costs by an estimated 80%.

Commercial banks participating in the trial reported zero latency on cross-continental transfers during initial stress tests.