Reported 2 days ago
Swift, in collaboration with over 30 leading banks, is developing a blockchain infrastructure aimed at transforming international money transfers into instantaneous transactions. This initiative, announced on September 29, seeks to create a shared digital ledger that integrates traditional banking systems with emerging digital currencies, potentially reducing the current delays and costs associated with cross-border payments. Major banking institutions, including JPMorgan Chase and HSBC, are backing this project, which responds to the rising importance of stablecoins and central bank digital currencies in the financial landscape.
Source: YAHOO