Payments giant SWIFT is developing a blockchain-based ledger with 30+ top banks and Consensys, aiming to enable 24/7 cross-border payments.

SWIFT Is Working With 30+ Global Financial Institutions On A Blockchain Ledger

As revealed in a press release , SWIFT is planning to add a blockchain-based ledger to its infrastructure stack, in collaboration with a group of more than 30 major financial institutions. SWIFT, short for the Society for Worldwide Interbank Financial Telecommunication, is a Belgium-based cooperative that connects banks around the world with a secure messaging network for initiating international payments.

SWIFT covers more than 11,500 institutions across over 220 countries and territories, and facilitates an estimated $150 trillion in cross-border transactions every ye

See Full Page