SWIFT to Integrate Blockchain-Based Ledger, Enhancing Digital Finance in 200+ Countries

The top payment network in the world, SWIFT, is integrating a blockchain-based ledger into its infrastructure. New tools will be accessible in across more than 200 nations and territories. The update seeks to improve the security and ease of digital finance. SWIFT can eliminate errors, expedite cross-border payments, and provide banks and other financial institutions with a transparent view of transactions. The change was implemented in response to the growing need for faster and more reliable international money transfers. The infrastructure upgrading of SWIFT shows that even well-established banking systems can embrace innovation. This modification might fundamentally alter international money transfers, making them safer, faster, and easier for all parties involved.