SWIFT, the global bank network for coordinating international transactions and payments, explores blockchain interoperability to remove friction from tokenized asset settlement
SWIFT, the global bank network for coordinating international transactions and payments, explores blockchain interoperability to remove friction from tokenized asset settlement
We’re collaborating with the Swift community globally to test how institutions can use their Swift connection to seamlessly interoperate with the multitude of blockchain networks emerging around the world.
This is news from earlier in June but was overshadowed by the SEC lawsuits that came out at the same time. SWIFT represents critical banking infrastructure and its openness to crypto assets signals a sea change in attitudes among banks. This article is still the lead story on their site, www.swift.com , which is also telling, despite recent regulator crackdowns on tokens.
They're just looking to "tokenize" their stuff, partly on a private blockchain like it's 2017. They're not going to do anything with bitcoin.
Yeah fair point, it doesn't involve Bitcoin. I was still surprised they were doing something like that, Swift represents a massive banking cooperative that is overseen by all the major central banks. Having them run experiments on the Ethereum sends a strong "we are not against crypto" signal which is something that would never have happened 5 years ago.