TechFlow reports that SC Ventures of Standard Chartered Bank and Deutsche Bank have announced the successful completion of the first proof of concept (PoC) for the Universal Digital Payment Network (UDPN). The initiative aims to connect payments across various CBDCs and blockchain networks via messaging—similar to Swift. Unlike Swift, financial institutions exchange information through a permissioned blockchain. Banks are willing to participate because the network supports only regulated tokens and enforces compliance using decentralized identity.
During the trial, SC Ventures repeatedly transferred and exchanged synthetic USDC and EURS (Stasis Euro stablecoin) in real time to Deutsche Bank wallets. SC Ventures used code leveraging the UDPN SDK and APIs, while Deutsche Bank utilized a graphical user interface.
