Ethereum

New Era

The financial world is buzzing as Swift, a global financial messaging network that powers cross-border payments, takes a bold step into the future of finance. Swift <a href="https://www.swift.com/news-events/news/live-trials-digital-asset-transactions-swift-start-2025#:~:text=The%20ability%20to%20execute%20digital,of%20digital%20assets%20and%20currencies." rel="noopener noreferrer nofollow">revealed</a> that this major initiative will allow banks across North America, Europe, and Asia to participate in real-world tests by 2025.&nbsp;
This includes digital asset transactions on its extensive network, which already serves over 11,500 financial institutions globally. This marks a significant leap for Swift, which aims to create a seamless bridge between digital currencies and traditional financial systems.
<h2 id="b-swift-to-power-new-era-for-digital-finance-b-span-style-font-weight-400-span">SWIFT to Power New Era for Digital Finance&nbsp;</h2>
Swift, which stands for the Society for Worldwide Interbank Financial Telecommunication, is no stranger to pioneering new technologies. Its upcoming trails represent the most advanced version of its infrastructure to date.&nbsp;
Leveraging its existing global network, Swift will interlink diverse digital and fiat platforms into one cohesive system. This is regardless of whether banks deal with traditional money or emerging digital assets.&nbsp;
Swift has been exploring the practicality, security, and efficiency of sending tokenized assets across borders. The financial messaging system is already making notable progress in its venture to develop its <a href="https://thecoinrise.com/swift-advances-cbdc-interlinking-solution-details/" rel="noopener noreferrer nofollow">central bank digital currencies (CBDCs).</a>&nbsp;&nbsp;
In addition, financial institutions will be able to conduct pilot transactions through these trials. Banks will be able to use their current Swift connection to settle digital assets. For the first time, banks can use this connection to settle digital and fiat currencies, providing a unified system for cross-border transactions.&nbsp;
<h2 id="b-unlocking-the-power-of-interoperability-b">Unlocking the Power of Interoperability</h2>
Swift’s entry into this space could profoundly affect how banks view digital assets, making it a driving force behind this move. Banks may now have the opportunity to integrate crypto coins into their own services rather than see digital assets as competitors. This could provide customers new ways to invest, transfer, and store value.&nbsp;
In a statement, Tom Zschach, Swift’s Chief Innovation Officer, emphasized the belief that digital asset’s global success depends largely on coexisting seamlessly with traditional forms of money. He noted that Swift’s vast global reach positions it to unify these two worlds.
<h2 id="b-building-on-blockchain-success-b">Building on Blockchain Success&nbsp;</h2>
Impressively, this initiative follows Swift’s wide array of successful experiments with blockchain technology. In 2022, Swift<a href="https://thecoinrise.com/swift-to-integrate-blockchain-in-collaboration-with-symbiont/" rel="noopener noreferrer nofollow"> integrated blockchain technology into its system </a>in collaboration with Symbiont.&nbsp;
It also connected its network to the Ethereum Sepolia testnet, using Chainlink, a Web3 services firm, as an enterprise abstraction layer. This demonstrated its capability to serve as a singular gateway to multiple blockchain networks.
The post <a href="https://thecoinrise.com/swift-to-launch-live-trials-of-digital-asset-transactions-in-2025/" rel="noopener noreferrer nofollow">Swift to Launch Live Trials of Digital Asset Transactions in 2025</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Swift to Launch Live Trials of Digital Asset Transactions in 2025

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