Digital Banking & Payments

Swift Integrates Blockchain Ledger for Future of Cross-Border Payments

Swift Integrates Blockchain Ledger for Future of Cross-Border Payments

Introducing Swift's Blockchain Evolution Swift, the global interbank messaging network, has made a significant stride towards the future of finance by announcing the launch of its own blockchain-based shared ledger. This groundbreaking initiative, developed in partnership with blockchain software specialist Consensys, aims to revolutionize cross-border transactions by enabling instant, always-on capabilities. This strategic move underscores Swift's commitment to evolving its infrastructure to meet the demands of an increasingly digital and interconnected global economy, building upon its five decades of establishing trust and standardization within the financial sector. A Legacy Reimagined: From Messaging to Digital Assets Since its inception in 1973, Swift has been the indispensable backbone of international financial communication. What began as a consortium of 239 banks across 15 nations has burgeoned into a colossal network, linking over 11,000 financial institutions worldwid…

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