Swift Launches Initiative to Incorporate Digital Assets into Worldwide Payment System

Swift has announced plans to integrate digital assets and currencies into its global payment network. This initiative will enable members to transact with regulated digital currencies, building on earlier experiments.

Swift highlighted the growing interest in digital assets, citing projections that tokenized markets could reach $30 trillion by 2034. Despite challenges like fragmented platforms and regulatory complexities, Swift’s blockchain tests have shown successful value transfers across different networks.

The company will continue to develop and test multi-ledger transactions, including CBDCs, aiming to enhance global integration and reduce risks.

Clever Robot News Desk 16^th September 2024