Swift News

The Digital Currency Monetary Authority (DCMA) has announced the launch of its Universal Monetary Unit (UMU) dubbed Unicoin.

Xapo Bank has announced that its members can now directly deposit and withdraw their USDC stablecoins on its regulated banking platform.

Swift's phase two CBDC pilot program is set to revolutionize cross-border payments by exploring the potential benefits and challenges of integrating digital currencies with Swift's platform.

SWIFT has announced the successful completion of the digital asset tokenization pilot it began late last year in collaboration with SETL, Northern Trust, and ClearStream. The project aims to foster interoperability in the asset tokenization ecosystem, according to a press…

SWIFT, the global messaging system used by financial institutions, announced a collaboration with Symbiont to deliver more accurate data to financial companies via blockchain technology.

A Nostro account is a system that allows a bank to hold foreign currency in another bank. For instance, a US bank may hold some Pounds(UK currency) in a UK-based bank.  The Ideology That Fuels Nostro Accounts The whole idea…

Through a collaboration with Capgemini, SWIFT has announced that it wants to explore the possibility of interlinking domestic and international CBDCs. The move will allow for the seamless cross-border payments of digital currencies. Addressing the CBDC Fragmentation Issue The number…

A newly launched coalition is making transferring cryptocurrencies easier, with the latter infamous for long, oft-complex alphanumeric addresses that lead to misplaced transfers and lost assets. Reaching 100 Million Users On June 18, over 40 technology and crypto-centric companies joined…

A leading European blockchain bank – Bank Frick – is mulling ditching SWIFT for Circle’s USDC stablecoin to execute and settle payments more efficiently, Decrypt reports, June 10, 2020. Bank Frick Embraces Stablecoin USDC Liechtenstein-based Bank Frick the time-tested international…

In a bid to facilitate swift payments between BRICS countries, the BRICS Business Council has proposed the creation of unifying cryptocurrency in a forum in Brazil. The crypto asset will be used as a single payment system for settlements between…

A group of investors has filed a complaint against Ripple with the Securities and Exchange Commission (SEC) for dumping illegal securities on investors in the token, as reported by Forbes, August 18, 2019. Bitcoin influencer Tone Vays has taken delight…

Well known fund manager of Hayman Capital Management, Kyle Bass, believes that the current run-up in Bitcoin is has been caused by global trade tension, Yuan devaluation, and capital leaving China. In an interview with Yahoo, Kyle emphasized that while capital…

Shareholder voting is getting the blockchain treatment as SWIFT announced on March 6, 2019, that they will be testing out a new blockchain-based platform for that purpose with Deutsche Bank, DBS, HSBC. Put to a Vote All publicly traded companies…

Cross-border payments leader Swift has inked a partnership with blockchain-based startup R3 to integrate the latter’s trade finance platform to its latest payments standards framework GPI, reports CNBC on January 30, 2019. Swift Snubs Ripple for R3 Swift, the undisputed…

Iran could unveil its state-backed cryptocurrency by the end of the week, as the country keeps looking for ways to avoid the harsh sanctions imposed by the U.S., Al Jazeera reported on January 27, 2019. State-Backed Stablecoin Facing an unprecedented…

SWIFT India, a joint venture between the Society for Worldwide Interbank Financial Telecommunication (SWIFT SCRL) and international and Indian Banks, recently partnered with MonetaGo, a fintech company, to trial distributed ledger technology (DLT). According to the press release published on…