BOE, MAS, BOT launch Project Meridian FX APAC for cross-border settlement

The Bank of England, Monetary Authority of Singapore, and Bank of Thailand announced Project Meridian FX APAC, a joint initiative to explore improvements in cross-border foreign exchange settlement. The project aims to reduce settlement risk and enhance efficiency in FX markets, potentially influencing future central bank digital currency designs. Details on scope and timeline remain limited, but the collaboration signals a coordinated push toward modernizing FX infrastructure.

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