Wholesale Payment Rails refer to the underlying infrastructure and systems used for large-value interbank and institutional financial transactions. These rails facilitate the movement of substantial sums of money between financial institutions, central banks, and major corporations. They are critical for the smooth functioning of national and international payment systems. These systems handle high-volume, high-value transfers efficiently.
Context
In the evolving digital economy, central bank digital currencies (CBDCs) and permissioned blockchain networks are being explored as potential modernizations for wholesale payment rails. News often discusses pilot programs or research initiatives by central banks investigating distributed ledger technology for interbank settlement. These efforts aim to increase the efficiency, security, and speed of institutional money transfers, potentially transforming global financial markets.
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