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.
Event
Michael Miebach, CEO of Mastercard, told an audience of blockchain executives that he expects SWIFT to phase out of existence in as little as five years' time.
WEF 2022: SWIFT probably won’t exist in 5 years, says Mastercard CEO
Philip Wu
2022-05-26T11:25:01+01:00
13878
News
The bank messaging service, which dates back to the 1970s, is looking to connect CBDCs to each other and to traditional currencies as it tries to stay up to dat...
SWIFT, Capgemini team up to test using the international network for CBDC transfers
Derek Andersen
2022-05-19T21:00:00+01:00
5991
Market Analysis
Pro traders often use the risk reversal options strategy to hedge their bets and profit in the case of an unexpected rally.
Here’s a clever options strategy for cautiously optimistic Bitcoin traders
Marcel Pechman
2022-03-01T23:05:00+00:00
9040
News
In addition to condemning Putin’s move to invade Ukraine, the European Commission committed to a series of measures meant to isolate Russia from the internation...
European Commission to remove Russian banks from SWIFT cross-border network
Arijit Sarkar
2022-02-27T06:47:11+00:00
68899
News
The past two years were much harder on the dollar, however.
While China's CBDC sets the pace, the yuan stumbles in usage abroad
Kollen Post
2021-01-21T20:00:00+00:00
4964
News
This seemingly fight-or-flight response to blockchain’s rising ubiquity may be too little, too late.
SWIFT enables instant cross-border payments
Sam Bourgi
2020-12-03T17:01:46+00:00
8698
News
The bank is shutting down the SWIFT network as protests rocked the country.
Kyrgyzstan’s central bank suspends SWIFT to prevent capital outflow
Helen Partz
2020-10-07T15:11:20+01:00
12679
Analysis
Despite Ethereum’s proposal to fix its high fees, some feel that more needs to be done to improve the network.
Ethereum scalability issues exposed as high gas fees stall DeFi boom
Shiraz Jagati
2020-09-10T18:43:00+01:00
22492

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