SWIFT Launches Blockchain to Transform Global Transactions

SWIFT is launching a new blockchain-based ledger aimed at enhancing the speed and efficiency of global bank transactions. This strategic move responds to the rise of stablecoins and seeks to streamline cross-border payments, potentially reshaping the financial landscape and improving the banking experience for customers. By integrating blockchain technology, SWIFT positions itself as a leader in financial innovation, impacting the $150 trillion annual payment market.