Swift: Blockchain shared ledger enters MVP development phase, with plans to launch real transactions this year
Foresight News reported that Swift tweeted that its plan to build a blockchain-based shared ledger has made significant progress. After completing the design phase with a global banking group, Swift is now developing the first MVP iteration of the ledger. The ledger aims to enable interoperability between bank tokenized deposits and support 24-hour cross-border payments. It is scheduled to be used for real transactions this year. The system will leverage existing compliance processes and support multiple settlement options, aiming to improve payment execution speed, liquidity transparency, and reduce reconciliation workloads between institutions.
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