Universal Digital Payments Network launched at Davos

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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.

UDPN 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.

“He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads” Revelation 13:16

The UDPN reports that several Tier 1 banks will participate in a series of proof-of-concept use cases throughout the rest of this month to demonstrate how UDPN could be used to solve current and future challenges in integrating digital currency into daily business, banking and payment scenarios.

The first two of these proof-of-concepts will involve two global banks testing UDPN’s digital currency cross-border transfer and swap transaction capabilities, and how the critical “Travel Rule” can be easily implemented on the UDPN between two financial institutions for anonymous stablecoin transfers.

“The purpose of UDPN is to investigate a potential alternative to existing payments systems by enabling interoperability between fiat-backed tokens of stablecoins and regulated protocols,” said Marika Lulay, CEO of GFT. “The decentralised approach and geographic breadth of participating firms, combined with the advanced technological solution deployed for these trials, set this network apart.”

Fintech HERE

Thanks Mr. Joshua

3 COMMENTS

  1. The son of George Soros his name is Alexander he is 37 years old and very active as well.i looked him up and guess what I found when I clicked on images several individual pics of him with the following politicians Nancy pelosi chuck Schumer Adam Schiff Hillary Clinton Barak Obama This turns my stomach because it’s clear why trump and others have been slandered this is all part of the big plan wef has ongoing no talk shows or media mentions any of this.soros owns the media and our government is infiltrated at very high levels,our young people are being destroyed because of these evil people it will take JESUS our Lord and savior to break this evil and he will.i think you will want too keep an eye on alexander Soros.

  2. I want to point out that Klaus schwabs son oliver being that he is or was head of computer tech at wef no doubt had a big hand in this new network starting up at davos last week,he is VERY dangerous because when his father passes away oliver will take over because of the knowledge his father has given him and is much younger also a strange thing about oliver is no birth date is given watch this man very closely I suspect Schwab and Soros are working together to bring about the one world order for the anti-christ to run.remember the political sets the stage for the prophetic.

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