SWIFT outlines 24/7 cross-border payments, Ripple links highlighted by analyst

Jack Pouderoyen, Head of Digital Asset Strategy at SWIFT, shared insights on the evolution of the global financial system in a recent discussion with Finextra Research. He emphasized a shift towards 24/7 cross-border payments, programmable forms of digital cash, atomic settlement, and tokenized securities as core objectives for the industry. SWIFT, the renowned global financial messaging network, is piloting a new ledger initiative that currently involves 17 banks across six continents, with over 40 institutions contributing to its development. Transactions on the platform span major currencies, including the US dollar, euro, British pound, Hong Kong dollar, and Singapore dollar.