Swift to streamline adoption of digital assets on its network

2024-9-12 20:01

Swift announces plans to streamline adoption of digital assets, including regulated stablecoins. Growth in the real-world assets (RWA) market, CBDCs and stablecoins are major reasons for Swift’s initiatives across the blockchain space.

Swift, the financial messaging network supporting the international payments system, is working towards a broader adoption of digital assets and currencies. This includes the use of regulated crypto assets.

According to Swift, the goal is to enable network members to tap into their Swift connection for transactions that leverage both traditional currencies and digital assets.

Swift eyes regulated digital assets

The announcement on Sept. 11 came as Swift said it’s moving forth to the next stage of this initiative after a series of pilot programs. Partnerships with blockchain and crypto platforms have been part of the progress, with one notable collaboration involving Chainlink.

A lot of the movement has come amid projections of fierce competition for Swift from blockchain alternatives. The piloting of alternative platforms have also seen Swift seek to unlock the benefits of tokenization for its members.

We’re paving the way towards real-world solutions that will enable our members to transact interchangeably with regulated #DigitalAssets and currencies on the Swift network.

👉 Discover what’s next on this exciting journey: https://t.co/SUwRPAtcdg#DigitalCurrencies #innovation pic.twitter.com/SPn0caIHgJ

— Swift (@swiftcommunity) September 11, 2024

Swift notes that blockchain interoperability experiments have revealed how the network’s infrastructure is capable of facilitating tokenized value transfers across both public and private blockchains.

Real-world assets aside, Swift has seen key collaborations across the central bank digital currencies space. These sectors, which have grown amid an explosion in stablecoin use, are what the interbank messaging provider believes could work into real-world solutions for its members.

Forecasts for RWA market

Various forecasts for the industry, including Standard Chartered and Synpulse’s estimate that the RWA market will reach $30 trillion by 2034, further add to this perspective.

Swift plans to interlink traditional and emerging digital assets amid the tokenization boom. This is the path to real-world solutions that enable multi-ledger delivery-versus-payment and payment-versus-payment transactions, it said.

When launched, both DvP and PvP aim at allowing for the real-time purchase and exchange of tokenized assets.

The post Swift to streamline adoption of digital assets on its network appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitswift (SWIFT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0998502
Капитализация $0 Rank 99999
Цена в час новости $ 0.0596236 (-100%)

swift assets streamline stablecoins digital adoption major

Источник: coinjournal.net

swift assets → Результатов: 39


Bitcoin Cash $BCH Takes The Spotlight While Bitcoin Battles Selling Pressure 

Bitcoin Cash ($BCH) positions itself as a user-friendly solution for daily transactions, boasting minimal fees and swift confirmations, ideal for routine purchases and micro-transactions. Despite its designed convenience, concerns are surfacing as traders exhibit Fear, Uncertainty, and Doubt (FUD) towards assets like Bitcoin Cash and Loopring, reflected in a surge […]

2024-1-25 23:15


Will XRP’s Price Jump After Another Ripple Win Against the SEC Be Short-Lived?

According to analysis firm Santiment, XRP spiked 8% following news that the SEC’s appeal against Ripple was denied. The immediate aftermath saw Ripple’s native cryptocurrency, $XRP, experiencing a swift +8% surge, and it has swiftly become a focal point, constituting nearly a quarter of discussions related to the top 100 assets in the crypto space.

2023-10-4 10:19


Digital Securities & Tokenization 2023: Exploring the Future of Digital Assets

The integration of crypto jargon into everyday business is leading to a swift and unprecedented evolution and maturation of the digital asset landscape. Tokenization is reshaping the conventional notion of ownership, while blockchain technology is being utilized in various ways, especially in the field of digital securities.

2023-6-22 00:42


Ripple’s Partner Accenture Writes Paper With SWIFT On CBDCs

Ripple’s partner Accenture, the technology and business consulting firm, has published a paper with SWIFT on the potential for central bank digital currencies (CBDC) payment solutions. Titled “Exploring central bank digital currencies: How they could work for international payments”, the paper claims there is surging interest for these types of assets. Accenture is a Fortune […]

2021-5-12 01:22


Investor: If bitcoin breaks $6,200, it may mark the start of a major bull run

In the past week, the bitcoin price has increased by nearly 6 percent from around $5,000 to $5,300, following an initial 20 percent gain from $4,200 to $5,000. The short-term rally of the dominant cryptocurrency led to a swift change in the sentiment around the cryptocurrency market as it pushed other crypto assets like Ethereum and […] The post Investor: If bitcoin breaks $6,200, it may mark the start of a major bull run appeared first on CryptoSlate.

2019-4-11 05:40


Newsflash: Bitcoin Price Stumbles Below $4,000; No Fret, A Swift Rebound is Coming

In the past several hours, the bitcoin price slipped below the $4,000 mark from $4,035 to $3,934, recording a 1 percent drop against the U. S. dollar. Given the fact that it took nearly three weeks for bitcoin to break out of the $3,000 region and reach $4,000, the sudden drop in the price of bitcoin below the $4,000 level initially led traders to reconsider the near-term price trend of the dominant cryptocurrency.

2019-3-26 11:50


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Hedera and Cardano join the DeRec Alliance as founding members

Cardano developer Input Output and Hedera are the latest cryptocurrency entities to join the Decentralized Recovery Alliance as founding members. The alliance announced on Sept. 5 that the entry of Hedera (HBAR) and Cardano (ADA) completes the list of members…

California DMV digitizes 42m car titles on blockchain

California’s Department of Motor Vehicles has digitized 42 million car titles using blockchain technology to reduce fraud and minimize the need for in-person visits. The project, conducted in collaboration with tech company Oxhead Alpha on Ava Labs’ Avalanche (AVAX) blockchain,…

Blockchain: A $2.1 Trillion Boost To Global GDP By 2030 – Report

In the age of growing digitalization, blockchain has emerged as a pivotal force propelling the progress of developing nations. This transformative shift is powered by the integration of cutting-edge technologies, including blockchain, with the capacity to revolutionize traditional economic sectors.