CoinDesk reports that SWIFT has confirmed 17 banks are preparing to pilot crypto-style cross-border payments. These pilots will utilize tokenized deposits on SWIFT’s new blockchain ledger, enabling banks to achieve 24/7 fund transfers. Participating banks include: 1. ANZ 2. BNP Paribas 3. BNY 4. Citi 5. DBS 6. First Abu Dhabi Bank (FAB) 7. Firstrand Bank Limited 8. HSBC 9. Itaú Unibanco 10. Lloyds Bank 11. Mashreq 12. MUFG Bank 13. OCBC 14. Standard Chartered 15. UBS 16. UOB 17. Wells Fargo. SWIFT stated that its infrastructure moves an amount equivalent to global GDP every two to three days, serving more than 200 markets.
SWIFT Confirms 17 Banks Preparing to Pilot Tokenized Cross-Border Payments
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Summary
SWIFT has confirmed that 17 banks are preparing to pilot tokenized cross-border payments using its blockchain ledger, with cross-chain bridges enabling seamless transfers. The pilot will enable 24/7 fund movement through tokenized deposits. Major banks including ANZ, BNP Paribas, Citi, HSBC, and UBS are participating. SWIFT’s system processes an amount equivalent to global GDP every two to three days across 200 markets.
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