Key Notes

Swift is adding a blockchain-based shared ledger to its network, developed in partnership with Consensys, to handle tokenized asset transfers.

The project involves a massive industry coalition, with over 30 financial institutions like JPMorgan and HSBC contributing to its design.

The new platform aims to enable instant, 24/7 cross-border payments.

It is part of Swift's dual strategy for upgrading financial infrastructure.

Global financial messaging network Swift announced on Sept. 29 that it is developing a blockchain-based shared ledger to handle cross-border transactions. The initiative, revealed at the annual Sibos conference, aims to enable instant, 24/7 payments for its network that connects more than 200 countries.

Swift is collaborating with Ethereum software firm Co

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