Core Insights - As of September 2025, the RMB has risen to the fifth position in global payment currencies, accounting for 3.17% of the total, with a 15.53% increase in payment amounts compared to August 2025, while total payment amounts for all currencies increased by 6.74% [1] Group 1 - SWIFT's statistics on RMB payments only include offshore payment messages and some cross-border payment messages, indicating that a significant amount of RMB cross-border transactions are not captured in SWIFT's data [1] - The People's Bank of China (PBOC) considers data from the Cross-Border Interbank Payment System (CIPS) and commercial bank internal systems for a more comprehensive assessment of cross-border payments, which aligns better with the definition of international currency usage [1] - Based on a full-caliber assessment, the RMB has been recognized as the third-largest payment currency globally, reflecting its true status in international payments [1]

Core Insights - Blockchain is transitioning from a proof of concept to becoming a fundamental financial infrastructure by 2025, with major institutions moving from testing to building [1][2] Group 1: Traditional Financial Institutions - In Q3 2025, traditional financial institutions began integrating blockchain to enhance operations, reduce transaction costs, and improve market positioning [2] - JPMorgan's Kinexys network processes over $2 billion in daily transactions and has cleared more than $1.5 trillion since its launch, indicating a strong commitment to blockchain as a standard for institutional settlements [3] - SWIFT is developing a shared real-time ledger that will connect over 30 global banks, operating alongside its existing messaging system [3] Group 2: Stablecoin Initiatives - Stablecoin-focused projects gained traction in Q3, with Circle launching Arc, a Layer-1 blockchain designed for stablecoin finance [4] - Stripe and Paradigm introduced Tempo, a payments-first Layer-1 blockchain for stablecoin transactions, with advisory partners including Deutsche Bank, Visa, and Shopify [4][5] - Visa initiated a pilot program for select partners to pre-fund accounts with stablecoins to expedite cross-border payouts, with a broader rollout planned for 2026 [5] - Standard Chartered's Anchorpoint joint venture applied for a stablecoin issuance license under Hong Kong's new regulatory framework, positioning itself as a pioneer in direct stablecoin issuance among multinational banks [5] Group 3: Technology Firms - Technology companies are establishing the infrastructure for blockchain applications, with Google Cloud launching the Universal Ledger (GCUL), a neutral Layer-1 blockchain aimed at banks and capital markets [6] - CME Group is testing GCUL for faster collateral settlement and margin optimization, showcasing the collaboration between tech firms and financial institutions [6]

Core Insights - The global enterprise network faces three core pain points: lack of collaborative trust, fragmented data value, and difficulty in risk quantification. Blockchain technology offers a foundation for trusted collaboration, but a single technology cannot overcome the scalability application bottleneck [1][3]. Group 1: Pain Points - Collaborative trust is lacking due to conflicts between individual rationality and collective optimality in multinational enterprises, particularly in cost-sharing and efficiency in cross-border logistics [4]. - Data value is fragmented, with cross-enterprise data interoperability below 27%, leading to "data silos" among different ERP systems and transaction records [4]. - Risk quantification is inadequate, with traditional risk assessment methods having an accuracy rate below 60% in the face of frequent uncertainties like node failures and policy changes [4]. Group 2: Technological Framework - The integration of game theory, knowledge graph reasoning, and probabilistic graphical reasoning is essential to construct a complete technical system that adapts to the complex scenarios of the global enterprise network [3][4]. - Game theory can design incentive mechanisms that shift enterprise collaboration from "passive compliance" to "active participation," potentially reducing cross-enterprise collaboration costs by 40%-50% [4]. - Knowledge graph reasoning can enhance the semantic utilization rate of global enterprise data to over 80% by integrating heterogeneous data across domains [4]. - Probabilistic graphical reasoning, particularly using Leuven school algorithms, can improve the accuracy of global network risk warnings to around 90% [4]. Group 3: Case Studies - The TradeLens blockchain platform, developed by Maersk and IBM, addresses the freight-sharing and timeliness assurance game in global container transport by designing dynamic revenue functions [6]. - The Sia blockchain project for global cloud storage uses game theory to establish revenue-sharing rules between storage and retrieval nodes, demonstrating effective collaboration with over 12,000 global nodes and a failure rate below 0.5% [6][7]. - The collaboration between SWIFT and Chainlink in cross-border payments introduces compliance contribution rewards to address the compliance game between banks and regulatory agencies, increasing compliance rates from 78% to 99% [6]. Group 4: Knowledge Graph Construction - The knowledge graph construction process involves four steps: participant identification, strategy space definition, revenue function formulation, and equilibrium goal adjustment [7]. - The mechanism enhances global supply chain collaboration efficiency by 35% and reduces port delay incidents by 62% through strategic adjustments based on cooperation depth [7]. Group 5: Risk Quantification - The Leuven school’s probabilistic graphical reasoning quantifies risk probabilities by modeling random variables, dependencies, and probability distributions, addressing efficiency and accuracy challenges in large-scale networks [10][11]. - The Akamai CDN blockchain project employs distributed Bayesian network algorithms to calculate node failure probabilities, achieving a 91% accuracy rate in failure warnings [11]. - HSBC's global forex trading blockchain platform quantifies the relationships between exchange rate fluctuations and policy risks, reducing currency loss by 42% and improving decision-making efficiency by 65% [11]. Group 6: Future Outlook - The integration of AI with the three technologies is expected to enhance the accuracy of collaborative models to over 96% by 2027, driven by advancements in large language models and graph neural networks [17]. - The establishment of global blockchain standards is underway, led by ISO, to reduce cross-enterprise technology adaptation costs [17]. - Research on quantum-resistant probabilistic graphical reasoning is being initiated to safeguard global enterprise assets against quantum computing threats [17].

Core Insights - SWIFT has confirmed the integration of Ethereum layer 2 Linea for its new blockchain-based payment settlement system, marking a significant step in bridging decentralized finance (DeFi) and traditional finance (TradFi) [1][2] SWIFT and Linea Integration - SWIFT has partnered with Consensys and over 30 global financial institutions to develop a 24/7 real-time crypto payments infrastructure, with Linea being the chosen platform [2] - Linea is a zk-EVM rollup designed to reduce transaction fees and enhance scalability, processing approximately 1.5 transactions per second at about one-fifteenth the cost of Ethereum mainnet fees [4] Institutional Adoption and Market Impact - SWIFT processes around $150 trillion in global payments annually, and moving a portion of this to blockchain could represent one of the largest institutional integrations of distributed ledger technology [5] - Major banks such as Bank of America, Citi, JPMorgan Chase, and Toronto-Dominion Bank are participating in the pilot phase, which could position SWIFT as a competitor to Ripple's XRP Ledger [6] Broader Trends in Banking - The initiative reflects a growing momentum in the banking sector towards tokenized settlement infrastructure, as evidenced by trials like JPMorgan's Onyx network and Citi's tokenization pilots [7] - If successful, SWIFT's project could diminish Ripple's appeal to banks and solidify Ethereum's role in cross-border settlements [8] Future Potential of Linea - Linea is viewed as a platform for decentralized communities and governance, with potential applications extending beyond payments [9] - Decentralized autonomous organizations (DAOs) are exploring similar systems using smart contracts, indicating a broader interest in blockchain-based governance solutions [10] Next Steps for SWIFT - While SWIFT has not provided a timeline for commercial launch, the pilot with over 30 banks indicates a move beyond testing [11] - The success of blockchain-based settlement adoption will depend on regulatory clarity and interoperability with existing systems, with Linea's selection linking SWIFT directly to Ethereum's scaling ecosystem [11]

chainlink completes ubs pilot same day swift announces blockchain settlement. link provides the oracles for $150t in annual payment flows. ubs pilot scales to production, swift needs those price feeds. link trades at $8b fdv providing infrastructure for payments worth 18,750x that. banks don't build oracle networks. ...

Core Insights - SWIFT is integrating a blockchain ledger into its infrastructure, starting with a prototype designed by ConsenSys for instant interbank cross-border payments [2][3] - A coalition of over 30 institutions, including major banks like Bank of America and Citi, is involved in the development of this blockchain solution [3] - The integration of blockchain technology by traditional financial institutions signifies a shift towards more efficient payment systems and acknowledges blockchain as a superior solution [4] Industry Implications - The move to a blockchain-based system by SWIFT could lead to significant cost savings and operational efficiencies across financial institutions [4] - The standardization of shared ledgers among banks will facilitate the bridging of fiat, stablecoins, and tokenized deposits, enhancing the validity of crypto in the market [6] - This development is expected to be bullish for stablecoins and the tokenization of real-world assets (RWAs), further legitimizing crypto on a global scale [6]

The Morning Minute (9.30)Powered by @yeet⏰Top News:-Crypto majors green but pulling back after Monday rally; BTC at $113k-SWIFT partners with Consensys to bring payments onchain-SEC & CFTC promise closer cooperation in crypto oversight-Meteora announces Oct 23 TGE date, shares new airdrop mechanism-Andre Cronje raises $200M at $1B valuation for Flying Tulip🌎 Macro Crypto and Memes-Crypto majors are green but pulling back after a big Monday rally; BTC +1% at $113,100, ETH +2% at $4,170, XRP -1% at $2.84, SOL ...

NEWS: SWIFT and Consensys to build a blockchain ledger prototype, in partnership with 30+ banks. https://t.co/KEhfiKqxoB ...

Blockchain Integration - Consensys is supporting SWIFT in early-stage blockchain prototyping [1] - SWIFT is adding a blockchain-based digital ledger to its technology stack [1] Global Finance Impact - SWIFT's move is pivotal for global finance [1] - The integration aims for instant, always-on cross-border payments at unprecedented scale [1]

SWIFT partners with Consensys and major banks to build blockchain prototype for real-time cross-border payments on Ethereum infrastructure.Read more: https://t.co/N4TjbmdtWW ...