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Tom Zschach, chief innovation officer at Swift says that the success showed that the blockchain networks could be interlinked for cross-border payments through a single gateway, and that Swift’s new transaction management capabilities could orchestrate all inter-network communication.“For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway, ensuring the instant and smooth flow of cross-border payments," he says.14 central and commercial banks, including Banque de France, the Deutsche Bundesbank, HSBC, Intesa Sanpaolo, NatWest, SMBC, Standard Chartered, UBS and Wells Fargo, are now collaborating in a testing environment to accelerate the path to full scale deployment.As reported by Finextra yesterday, a seperate Swift-led pilot has also successfully implemented a common framework linking tokenisation systems between CSD’s and global custodians. Working in collaboration with Citi, Clearstream, Northern Trust, and technology partner SETL, Swift explored 70 scenarios simulating market issuance and secondary market transfers of tokenised bonds, equities and cash.

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AdaniConneX, a 50:50 joint venture between AdEnterprises and EdgeConneX, has established India's largest sustainability linked financing to raise up to USD 1.44 billion. In a press release on Sunday, AdaniConnex said the financing has an initial commitment of USD 875 million, with a feature to extend commitment up to USD 1.44 billion. The transaction takes AdaniConneX's construction financing pool to USD 1.65 billion, building on the maiden construction facility of USD 213 million executed in June 2023.

Man Group said the deal was the 'first step' in its new partnership with F-ISPB, which will focus on creating a range of technology-enabled alternative and long-only investment strategies.

CERNOBBIO, Italy (Reuters) — The chairman of Intesa Sanpaolo (OTC:ISNPY) sees no cause for alarm over the impact of the windfall tax on Italian banks and said it would probably cost Italy's biggest bank less than 1 billion euros ($1.08 billion).

By Valentina Za and Alexandra Schwarz-Goerlich

European stocks rallied as investors took some comfort from assurances by the Italian government that a new windfall tax on banks will be capped.

(Reuters) — European shares rose on Wednesday, with Italian lenders rebounding from sharp losses in the previous session after the government eased its stance on a new banking levy.

ROME (Reuters) -Italian banking stocks rose in early trade, regaining some of the ground lost after the government late on Tuesday announced a cap on a windfall tax for the country's lenders.

real estate as a concern, Reuters reported. The banking stocks downgraded by Moody's declined between 1.7% and 2.1%.

banking system after Moody’s cut the credit ratings for 10 smaller and midsized lenders. The S&P 500 fell 19.06, or 0.4%, at 4,499.38. The Dow Jones Industrial Average dropped 158.64, or 0.4%, at 35,314.49.

By Shashwat Chauhan, Amruta Khandekar and Shristi Achar A

Italian banking shares took a beating on Tuesday morning after Italy's cabinet approved a 40% windfall tax on lenders' «excess» profits in 2023.

Sandbox participants included the Banque de France, the Deutsche Bundesbank, the Monetary Authority of Singapore, BNP Paribas, HSBC, Intesa Sanpaolo, NatWest, Royal Bank of Canada, SMBC, Société Générale, Standard Chartered and UBS.Tom Zschach, chief innovation officer at Swift, comments: “Our experiments have shown the critical role that Swift can play in a financial ecosystem in which digital and traditional currencies co-exist. Our API-based CBDC connector has been proven to be robust across almost 5,000 transactions between two different blockchain networks and traditional fiat currency, and we’re delighted to have the support of our community in developing it further.

On Wednesday, the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, announced that it has successfully moved central bank digital currencies (CBDCs) and tokenized assets on existing financial infrastructure through two separate experiments. According to SWIFT, the results demonstrated that "CBDCs can be rapidly deployed at scale to facilitate trade and investment between more than 200 countries and territories around the world."

Tom Zschach, chief innovation officer at Swift says that the success showed that the blockchain networks could be interlinked for cross-border payments through a single gateway, and that Swift’s new transaction management capabilities could orchestrate all inter-network communication.“For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway, ensuring the instant and smooth flow of cross-border payments," he says.14 central and commercial banks, including Banque de France, the Deutsche Bundesbank, HSBC, Intesa Sanpaolo, NatWest, SMBC, Standard Chartered, UBS and Wells Fargo, are now collaborating in a testing environment to accelerate the path to full scale deployment.As reported by Finextra yesterday, a seperate Swift-led pilot has also successfully implemented a common framework linking tokenisation systems between CSD’s and global custodians. Working in collaboration with Citi, Clearstream, Northern Trust, and technology partner SETL, Swift explored 70 scenarios simulating market issuance and secondary market transfers of tokenised bonds, equities and cash.

Russian President Vladimir Putin met via video-link with business leaders from leading Italian companies on Wednesday, in spite of the tensions between Moscow and the West over Ukraine and NATO.