The BIS project Agora is interesting, with 7 central banks and over 40 institutions working together on tokenized cross-border payments. If atomic settlement really becomes practical, SWIFT will probably be unable to sit still.

ME News message. On May 28 (UTC+8), the latest research from Project Agorá, led by the Bank for International Settlements (BIS), shows that tokenization technology is expected to significantly improve settlement speed and reconciliation efficiency in cross-border payments, and reduce transaction failures and operational risk. The project is jointly participated in by the BIS, 7 central banks, and more than 40 financial institutions, including the Federal Reserve Bank of New York, the Bank of England, the Bank of Japan, and the Swiss National Bank. The research suggests that tokenizing central bank reserves and commercial bank deposits can support cross-currency, cross-jurisdiction "atomic settlement"