The Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand have shared results from Project Meridian FX APAC, a joint experiment focused on making international currency exchanges faster and safer across different settlement systems. Announced on November 13, 2026, the findings demonstrate how synchronization could help central banks coordinate payments across their settlement systems, even when those systems run on different technology.
The test covered foreign exchange settlement across traditional Real-Time Gross Settlement systems and Distributed Ledger Technology-based systems, spanning various currencies, technologies, and infrastructures. It focused on payment-versus-payment settlement, ensuring that one currency only moves when the matching payment in another currency also moves.
Partior served as the project’s technical partner. The company supports 24/7 atomic settlement for cross-border payments and FX payment-versus-payment. Partior emerged from Project Ubin, an industry initiative led by the Monetary Authority of Singapore that advanced the use of blockchain and distributed ledger technology.
Trials proved that linked payments settle or reverse despite simulated errors or outages. The project highlighted reduced settlement risk, better interoperability as different forms of money evolve, and a foundation for modernizing wholesale settlement while preserving trust in central bank money. The Bank of England plans to launch a live synchronization interface in 2028, with next-phase technical and policy goals already identified.
