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The Bank of England, MAS, and Bank of Thailand tested synchronized payment-versus-payment settlement across RTGS and DLT networks ahead of a planned 2028 UK interface.
Key point 1 of 3
01
Bank of England, MAS, and Bank of Thailand concluded Project Meridian FX APAC testing synchronized FX settlement across RTGS and DLT systems .
Key point 2 of 3
02
Partior deployed a Synchronisation Operator prototype enabling atomic payment-versus-payment and multilateral net FX settlement .
Key point 3 of 3
03
The Bank of England plans to deploy an operational synchronization interface by 2028 .
Context
Project Meridian FX APAC originated from a November 2025 initiative following prior European central bank experimentation to address cross-border settlement fragmentation .
Why it matters
Wholesale banks operating cross-border FX corridors could lower settlement risk and improve capital efficiency through atomic coordination across DLT and RTGS rails .
What to watch
The Bank of England's scheduled introduction of a live synchronization interface in 2028 .
Sources
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