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SWIFT News

SWIFT, or a Society for Worldwide Interbank Financial Telecommunication, is a co-operative organization that is the provider of the SWIFT network — a standard for exchanging transaction information between financial institutions. SWIFT was founded in 1973 in Belgium. SWIFT is currently used by most international banks and is famous for its secure and trusted network. That being said, SWIFT has its flaws and is investing in the further development the system. With multiple blockchain competitor companies like Ripple, which plans to speed up and establish the highest level of security in banking transactions, SWIFT is actively working on implementing blockchain technology into their protocol. SWIFT’s blockchain tests have already been conducted and have showed very good results. However, SWIFT’s team concluded that distributed ledger technology should be improved in order for it to be implemented into the international banking system.

Top News

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The past two years were much harder on the dollar, however.

While China's CBDC sets the pace, the yuan stumbles in usage abroad

2021-01-21T20:00:00+00:00

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This seemingly fight-or-flight response to blockchain’s rising ubiquity may be too little, too late.

SWIFT enables instant cross-border payments

2020-12-03T17:01:46+00:00

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The bank is shutting down the SWIFT network as protests rocked the country.

Kyrgyzstan’s central bank suspends SWIFT to prevent capital outflow

2020-10-07T15:11:20+01:00

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Despite Ethereum’s proposal to fix its high fees, some feel that more needs to be done to improve the network.

Ethereum scalability issues exposed as high gas fees stall DeFi boom

2020-09-10T18:43:00+01:00

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Despite the interest currently surrounding the digital yuan, some are not yet sure of the project’s overall scope and mainstream viability.

China’s Digital Yuan CBDC Is Close, but Many Details Remain Unknown

2020-08-17T17:34:00+01:00

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Exploring six major points regarding Tether’s impact on geopolitics and the future development of sovereign digital currency.

Tether: Challenging the USD’s Hegemony, Championing CBDC and Beyond

2020-06-30T15:07:00+01:00

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Thai Stellar-based blockchain startup Lightnet raised $31.2 million in a Series A funding round led by major financial conglomerates in South East Asia.

Thai Stellar-Based Startup Lightnet Raises $31M to Replace SWIFT

2020-01-10T20:55:00+00:00

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With Chinese President Xi Jinping recently showcasing support for blockchain, local media is seemingly changing its sentiment toward crypto.

China Walks Back Hardline Media Rhetoric Toward Crypto and Blockchain

2019-11-14T18:23:00+00:00

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