Thailand, UK and Singapore central banks test linking traditional and tokenized FX settlement

Project Meridian FX APAC showed that old-school payment rails and tokenized ledgers can settle currency trades in sync Central banks from the UK, Singapore and Thailand have finished a set of trials connecting traditional foreign-exchange settlement with tokenized systems. The results were announced on November 13, 2026, and the central banks say the tests worked. The effort is called Project Meridian FX APAC. It tackled an unglamorous corner of finance with very large stakes: making sure both halves of a currency trade settle together, even when each half runs on a different technology. The core idea is synchronized FX settlement. The trials linked conventional Real-Time Gross Settlement (RTGS) systems with platforms built on distributed ledger technology (DLT), the tokenized infrastructure that blockchains popularized.

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