Swift, the Global Financial messaging network, displays new accounting records based on Ethereum’s “blockchain technology.” This network is created with Wallet Metamask and Consensey, the head of the Line Network. The announcement came at the Sibos Conference in Frankfurt.
This new Swift network, which includes 30 financial institutions, is Accelerate cross-full payments in real time, 24 hours on over 200 territories.
It is a prototype of ledger or accounting books that records, sequences, and valid transactions in intelligent contracts, and is compatible with regulatory forms of interoperable value tokenized with other cryptocurrencies.
As reported by Cryptonotics, Consensys works online. This is the second tier of Ethereum, which airs down around 85% of the supply of native currency.
Fast The plan accelerates the first phase of the conceptual prototypemaintains interoperability with existing and emerging systems, both private (as the institutional degree of XRPL) and public (Ethereum, Line, and other networks).
This extension expands the role of Swift in digital environments. “Through this first ledger concept, we are raiding how financial institutions can raise payments to the next level on a Swift proven, trustworthy platform at the heart of the digital transformation of the industry,” says Javier Pérez-Tasso, CEO of Swift.
It is found in collaboration entities Bank of America, BBVA, City, Deutsche Bank, HSBC Y JP Morgan Chaseproviding feedback to your design.
“We believe this is a strong infrastructure update and could be a pivotal step towards global, snapshots and always active cross-border transactions,” said Nigel Dobson, ANZ’s banking services leader.
Ledger is part of a quick strategy for innovating in parallel: Update your existing Fiat Pass Advanced digital payment weapons have been created, This allows for a variety of infrastructure.
Institutions such as BNP Paribas and Standard Chartered highlighted the benefits of efficiency and transparency in 24/7 payments.
Eva Rubio, Head of Global Transaction Banking at BBVA, added: “The ability to liquidate regulated value in real time with the reliability and safety that the fast industry expects will unlock new efficiencies and opportunities for clients.”
Other traditional financial figures also discussed:
Integrating blockchain technology into the Swift platform is a major advance in international payments and is extremely beneficial for the industry. This collaboration allows us to provide customers with improved services. We are pleased to meet the growing demand for innovative forms of instant and secure global transactions.
Brigitte Réthier is a member of the Commerzbank Sales Board.
Swift, based in Brussels; Connects to over 11,000 institutions through our global network, And the measures respond to an increase in digital assets adoption in cross-border finances.