CLARIFICATION ON JUNE 28TH AND SWIFT’S BLOCKCHAIN INITIATIVE:
SWIFT’s retail payments framework and its blockchain shared ledger are operating on two different timelines.☝️
The retail payments framework is scheduled to go live with 25+ banks by the end of June.
This is the new rules-based system for cross-border payment corridors, providing greater transparency, traceability, and faster settlement across markets including India, the UK, the U.S., and Germany.🔑
The blockchain-based shared ledger is a separate initiative.🔒
SWIFT completed the design phase on March 30 and is now building the first iteration of the platform. ⏰
According to the reports, the MVP is expected to go live with real transactions later this year, not June.
Documented.📝👇
CLARIFICATION ON JUNE 28TH AND SWIFT’S BLOCKCHAIN INITIATIVE:
SWIFT’s retail payments framework and its blockchain shared ledger are operating on two different timelines.☝️
The retail payments framework is scheduled to go live with 25+ banks by the end of June.
This is the new rules-based system for cross-border payment corridors, providing greater transparency, traceability, and faster settlement across markets including India, the UK, the U.S., and Germany.🔑
The blockchain-based shared ledger is a separate initiative.🔒
SWIFT completed the design phase on March 30 and is now building the first iteration of the platform. ⏰
According to the reports, the MVP is expected to go live with real transactions later this year, not June.
Documented.📝👇