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Swift Enhances Global Finance with Secure Blockchain Solutions
Swift Enhances Global Finance with Secure Blockchain Solutions
22
1
BTCCSquare news:
Swift, the global interbank messaging network spanning 200+ countries, unveiled plans to integrate blockchain technology into its financial infrastructure during the Sibos conference in Frankfurt. The initiative focuses on developing a shared digital ledger to streamline cross-border payments, with Consensys building a prototype involving 30 financial institutions.
The ledger will authenticate transactions between banks using smart contracts, supporting 24/7 real-time settlements with regulated tokens. Designed for backward compatibility, the system allows institutions to select token types while Swift provides the transactional framework. CEO Javier Pérez-Tasso emphasized this as part of Swift's ongoing modernization of payment systems.
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