News
The bank messaging network has seen a dramatic increase in processing speed and is developing technology to connect CBDCs.
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SWIFT News
SWIFT, or a Society for Worldwide Interbank Financial Telecommunication, is a co-operative organization that is the provider of the SWIFT network — a standard for exchanging transaction information between financial institutions. SWIFT was founded in 1973 in Belgium. SWIFT is currently used by most international banks and is famous for its secure and trusted network. That being said, SWIFT has its flaws and is investing in the further development the system. With multiple blockchain competitor companies like Ripple, which plans to speed up and establish the highest level of security in banking transactions, SWIFT is actively working on implementing blockchain technology into their protocol. SWIFT’s blockchain tests have already been conducted and have showed very good results. However, SWIFT’s team concluded that distributed ledger technology should be improved in order for it to be implemented into the international banking system.
- Opinion
Ripple Labs built its XRP token on a centralized system. But with legal action against Ripple coming to a close, it could move toward a more open platform.
8782 - News
SWIFT claims that interlinking existing systems with blockchains is better for the short term than bringing CBDCs together with tokenized assets in a single ledger.
5982 - News
Several top banks around the world are already collaborating with Chainlink to explore applications for the Cross-Chain Interoperability Protocol.
7493 - Follow up
Swift, the interbank payments network, has enlisted a dozen world-class institutions — and Chainlink — to fix blockchain’s interoperability deficit.
5058 - News
According to the Bitcoin custodian, utilizing the USDC stablecoin will allow members to deposit and withdraw funds without fees.
5046 - News
There is no technical reason preventing Russia from creating its own blockchain-based system, blockchain provider Fuse Network’s CEO believes.
6291 - News
According to a recent survey by the OMFIF Digital Monetary Institute that was cited by SWIFT, 24% of central banks will introduce a CBDC within the next couple of years.
9479 - News
The demise of the crypto-friendly bank has prompted discussion about who tipped the first domino, and where crypto firms can turn for their banking needs.
5446 - News
Binance stressed that credit and debit card payments will continue to be accepted and that non-USD bank transfers would still be processed through the SWIFT payment system.
45734 - Newsletter
Another major financial institution has signaled its intent to offer Bitcoin and Ether services to its clients.
6649 - News
According to Chainalysis data, Russia’s stablecoin usage has increased since the onset of the war, due partly to ordinary Russian citizens seeking to protect their assets.
4065 - News
Visa is set to integrate its B2B Connect network with JPMorgan’s suit of blockchain-based cross-border payment products.
11384 - Analysis
Are TradFi and DeFi converging, moving toward a middle ground that includes tokenized assets, interoperability and regulation?
8760 - News
The project will connect SWIFT’s network to nearly every blockchain to allow traditional finance players access to digital and traditional assets on one network.
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