The Bank for International Settlements has started testing the system of interbank transactions on the Mandala blockchain. A representative of the BIS Innovation Hub Singapore noted that the Mandala project uses a "compliance-by-design" approach. This method not only guarantees the protection of confidentiality, but also ensures the integrity of the transmitted data. The bank also drew attention to the fact that Mandala can effectively integrate with new payment systems in digital assets, including wholesale digital currencies of central banks (CBDC) and traditional payment messaging systems such as SWIFT. 
I hope this will certainly speed up transactions, as well as give a boost to the development of cooperation between the traditional finance sector and decentralized financial protocols (DeFi). 
What do you think about this news?

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