Bitcoin
$42,659.98-1.46%
Ethereum
$2,914.60-0.58%
XRP
$0.948511+1.31%
Cardano
$2.33+5.36%
Polkadot
$30.70+1.16%
Stellar
$0.278119-2.52%
Dogecoin
$0.210945+0.41%
Chainlink
$22.90-0.94%
Uniswap
$19.59-0.78%
Cosmos
$41.29+7.62%
Polygon
$1.12-1.42%
Algorand
$1.76-1.66%
Litecoin
$154.05+0.97%
Bitcoin Cash
$519.03+0.72%
Wrapped Bitcoin
$42,699.13-1.10%
The Graph
$0.679681-2.74%
Filecoin
$61.69-7.16%
Tron
$0.092008-0.37%
Tezos
$7.19+17.99%
Ethereum Classic
$47.55-0.03%
Aave
$278.79-1.67%
Monero
$239.59-0.48%
NEO
$39.41-3.19%
EOS
$4.02+0.07%
IOTA
$1.26-2.04%
BitTorrent
$0.003266-0.29%
Bitcoin SV
$133.83-4.39%
Waves
$24.54-4.78%
Maker
$2,281.28-1.12%
Dash
$169.01-0.88%
Decred
$116.94+1.30%
Decentraland
$0.692398-0.58%
ICON
$1.57-0.31%
NEM
$0.147780-1.59%
Zcash
$111.15-2.57%
OmiseGO
$8.94+0.87%
Paxos Standard
$1.00+0.04%
Yearn Finance
$29,970.56+3.06%
NuCypher
$0.281781+0.25%
Ren
$1.09+13.81%
Qtum
$9.78-2.19%
Bitcoin Gold
$51.63-2.79%
Basic Attention Token
$0.647485-1.01%
Fetch.ai
$0.803249+3.59%
0x
$0.905769-1.05%
Kava.io
$6.09+2.88%
Bancor
$3.44-0.96%
Band Protocol
$7.36-4.41%
Siacoin
$0.014893-2.03%
Nano
$4.73+0.76%
Loopring
$0.380604-0.86%
Civic
$0.460012-1.94%
Storj
$1.08-0.96%
Numeraire
$41.79+3.55%
Lisk
$2.87-0.45%
Orchid
$0.318533-3.19%
PAX Gold
$1,759.20-0.08%
Enzyme
$131.35-3.37%
Augur
$20.49-3.58%
Aragon
$4.74+0.88%
district0x
$0.151417+1.24%
Kyber Network
$1.45+0.03%
SingularDTV
$0.001282-4.79%
Tether
$1.00+0.02%
USD Coin
$1.00-0.00%
Dai
$1.00+0.01%

6 Leading Banks Back SWIFT's New International Payments Platform

The banks include Citi, Bank of China, BNP Paribas and Deutsche Bank.

Jun 24, 2021 at 11:10 a.m. UTC
Updated Sep 14, 2021 at 1:16 p.m. UTC

Six of the world's biggest banks endorsed a new platform for international payments set for launch in November 2022 by SWIFT, the global interbank messaging network.

  • Citi, Bank of China, BNP Paribas, Deutsche Bank, BNY Mellon and Standard Chartered plan to use the new platform, an announcement Thursday said.
  • SWIFT is a global messaging network connecting banks and other financial institutions for cross-border payments. It links more than 11,000 institutions, and in June alone has transmitted more than 350 million messages containing financial information.
  • The new platform is set to include features such as upfront validation of beneficiary details, extension of SWIFT's high-speed system to lower-value payments and incorporation of the universal messaging standard for international payments, ISO 20022.
  • There have been suggestions that SWIFT could be made redundant by growth in use of digital currency – be it crypto, stablecoins or central bank digital currencies.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...