Core Insights - Swift is collaborating with Consensys and a consortium of over 30 global banks to integrate a blockchain-based shared ledger into its technology stack, enabling direct recording, sequencing, and validation of financial transactions [1][2] - The initiative aims to enhance real-time, 24/7 cross-border payments, with the architecture and governance shaped by feedback from participating banks [3][4] Group 1: Consortium and Collaboration - The consortium includes major global banks such as JPMorgan Chase, Bank of America, Deutsche Bank, HSBC, and others from 16 countries [2] - Swift has engaged Consensys to develop a conceptual prototype focusing on cross-border payments [3] Group 2: Technological Features - The shared ledger will serve as a secure, real-time transaction log, utilizing smart contracts to enforce rules [4] - Interoperability is a key design priority, ensuring compatibility with both private and public distributed ledger networks and existing fiat systems [4] Group 3: Strategic Vision - Swift's CEO emphasized the initiative as a step towards creating the future infrastructure for financial institutions, enhancing the payments experience [5] - The project is part of a broader digital transformation strategy within the financial industry [5] Group 4: Previous Initiatives - Swift, UBS Asset Management, and Chainlink completed a pilot project for settling tokenized fund subscriptions and redemptions, integrating digital asset transactions with traditional fiat systems [6][7]

Core Insights - Qatar National Bank Group (QNB) has adopted JPMorgan's blockchain platform, Kinexys, to enhance corporate digital payments in the region, addressing the limitations of traditional banking infrastructures [1][2][3] Group 1: Departure from Traditional Banking - Traditional finance systems restrict cross-border payments to weekdays, often resulting in transaction delays of several days [2] - By utilizing Kinexys, QNB aims to provide a more efficient payment system that operates continuously, with lower transaction fees and the capability to process payments in real-time [3] Group 2: Blockchain Payment System Features - Kinexys can handle up to $3 billion in daily transactions, although this is a small portion of JPMorgan's total daily payment volume of approximately $10 trillion [3][4] - The platform allows clients to transfer funds in real-time, significantly improving transaction speed, with QNB claiming payments can be guaranteed in as fast as two minutes [5] Group 3: Industry Trends - SWIFT is also exploring blockchain technology by collaborating with Consensys to develop a 24/7 real-time cross-border payment system, indicating a broader industry shift towards blockchain solutions [5][6] - The focus on compliance and interoperability with existing and emerging networks is crucial for both QNB and SWIFT as they bridge traditional finance with digital assets [6]

Hey crypto enthusiasts, ready for some potential moonshots. Let's dive into five exciting cryptocurrencies under $5 that might just skyrocket. First up, Caspa or Kaz, a high-speed scalable blockchain that's turning heads.Next, we've got Near Protocol, aiming to bring blockchain to the masses with its userfriendly approach. Don't sleep on Toncoin or Ton, originally developed by Telegram and now making waves in the crypto world. For all you tech lovers, there's Render, or R&DR, revolutionizing GPU rendering.L ...

RT Cointelegraph (@Cointelegraph)🔥 JUST IN: Chainlink, SWIFT, and major institutions launched a blockchain solution to address $58B in corporate action inefficiencies. https://t.co/JchitjNuqw ...

Global financial messaging network Swift announced on Sept. 29 that it is developing a blockchain-based shared ledger to handle cross-border transactions. The initiative, revealed at the annual Sibos conference, aims to enable instant, 24/7 payments for its network that connects more than 200 countries. Swift is collaborating with Ethereum software firm Consensys on an initial prototype, alongside over 30 major financial institutions, including JPMorgan, HSBC, and Deutsche Bank. The shared ledger is desi ...

PIX is a payment method developed by the Central Bank of Brazil. Photo by BeInCrypto Qatar National Bank (QNB) has officially adopted JPMorgan’s blockchain payment platform, Kinexys, to accelerate corporate US dollar transactions. The system enables near-instant settlements and operates continuously, allowing cross-border payments outside traditional banking hours. QNB Streamlines US Dollar Settlements QNB, the largest bank in the Middle East and Africa, has integrated JPMorgan’s Kinexys platform to im ...

MBS Invests $8.8 Billion to Build Blockchain-Focused Financial Hub in Maldives. Photo by BeInCrypto Global payments cooperative Swift announced the launch of a blockchain-based shared ledger with more than 30 global banks and Consensys, aiming to deliver instant, 24/7 cross-border transactions. The ledger will use smart contracts, programs that automatically enforce transaction rules, and is positioned as a direct answer to competition from stablecoins. Swift unveils shared ledger to counter stablecoins ...

Come say hi if you're in Singapore! Look for the Dash shirts of course 🧬Web3Daria (@DariaChernozub):Landed in Singapore for @TOKEN2049 🌏Grateful to @Dashpay for covering my trip — tickets, hotel & conference pass — so I can meet partners & share what this blockchain is really about.Brought merch, stickers & hand-painted artwear. Let’s connect!@DashNews_ru @ItaliaDash https://t.co/0vX53wxuxd ...

🔥 JUST IN: Chainlink, SWIFT, and major institutions launched a blockchain solution to address $58B in corporate action inefficiencies. https://t.co/JchitjNuqw ...

We are excited to announce a major industry milestone in a global corporate actions initiative led by Chainlink in collaboration with 24 of the world’s largest financial organizations, including Swift (@swiftcommunity), DTCC (@The_DTCC), and Euroclear (@EuroclearGroup).https://t.co/77PiHx6EylCorporate actions are a critical building block for public equity to operate successfully onchain. Building on the foundation established in the first phase of our industry initiative, we now have successfully demonstra ...