# SWIFT Related Articles

HTX News Center provides the latest articles and in-depth analysis on "SWIFT", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Taurus connects digital asset platforms to Swift's blockchain ledger

Digital asset infrastructure provider Taurus has integrated its tokenization and custody platforms with Swift's blockchain-based ledger. According to a Wednesday announcement, Taurus clients will now be able to connect their existing digital asset infrastructure to the ledger and make payments using bank-issued tokenized deposits. The first client integrations are expected to go live within days, with the first ledger-based transactions on Taurus platforms to occur within weeks. Swift announced its ledger was ready for initial use in July, with 17 banks across six continents preparing for live pilot operations using tokenized deposits. Since then, Standard Chartered and HSBC have completed the first real cross-border transaction on the ledger, linking separate tokenized deposit systems. The international payment network's ledger coordinates 24/7 cross-border payments using tokenized deposits on participating banks' balances, orchestrating transfers between institutions prior to final settlement via existing mechanisms, including real-time gross settlement systems.

cryptonews.ru3h ago

Taurus connects digital asset platforms to Swift's blockchain ledger

cryptonews.ru3h ago

Taurus links digital asset platforms to Swift’s blockchain ledger

Digital asset infrastructure provider Taurus has integrated its tokenization and custody platforms with Swift's blockchain-based ledger. This allows Taurus clients to connect their existing infrastructure to use bank-issued tokenized deposits for payments. Initial client integrations are expected within days, with the first transactions via the platform anticipated in weeks. Swift's ledger, announced ready for initial use in July with 17 global banks piloting, serves as an orchestration layer for 24/7 cross-border payments using tokenized deposits. It coordinates transfers between institutions prior to final settlement. Notably, Standard Chartered and HSBC have already completed the ledger's first live cross-border transaction.

cointelegraph4h ago

Taurus links digital asset platforms to Swift’s blockchain ledger

cointelegraph4h ago

Why is XRP in the red now after a 50% weekly surge?

XRP fell 2.2% over 24 hours after a 49.4% surge in the previous week, moving back into negative territory. The drop coincides with major banks advancing blockchain-based payment solutions that address the need for prefunding in cross-border transfers, potentially competing with XRP's use case. JPMorgan Chase expanded its blockchain settlement system, Kinexys, to eight currencies, allowing clients to move and exchange funds around the clock without needing a separate crypto asset. Similarly, Citigroup operates a round-the-clock USD clearing network and offers Citi Token Services for tokenized deposits, aiming to speed up payments while reducing the amount of capital required upfront. While its 90-second settlement is slower than XRP Ledger's 3-5 seconds, using cash already held in a regulated bank may be more critical for companies. Furthermore, SWIFT has facilitated interoperability between different bank-issued tokenized deposits without a common cryptocurrency. In a recent pilot, HSBC and Standard Chartered completed a cross-border transaction using SWIFT's ledger to coordinate and settle obligations between their separate token systems. SWIFT reports that 17 banks across six continents are preparing for real transactions using this model. These developments in traditional finance present alternative, bank-integrated pathways for instant, cross-border value transfer, potentially impacting the demand and price trajectory for XRP.

cryptonews.ru11h ago

Why is XRP in the red now after a 50% weekly surge?

cryptonews.ru11h ago

Is Stablecoin Really Necessary for Cross-border Payments?

"Is Stablecoin Truly Necessary for Cross-Border Payments? While stablecoins are often praised as superior for cross-border transfers—especially if the recipient desires crypto—their advantage is less clear in traditional cross-currency scenarios (e.g., USD to Mexican Peso). The existing correspondent banking system is slow and costly (≈15% fees) due to multiple intermediaries. Modern fintech solutions like Wise have dramatically improved this by using a netting model: they hold local currency pools and settle payments domestically, avoiding actual cross-border fund movement. This offers near-instant transfers with low, transparent fees (averaging ~0.52%). The 'stablecoin sandwich' model (convert fiat to stablecoin, transfer on-chain, convert to local fiat) offers similar user experience but doesn't inherently provide major cost or speed advantages over fintech. Its on-chain transfer is cheap, but fiat conversion spreads remain. Stablecoin's real innovation is 'unbundling' the cross-border payment stack. Instead of requiring a proprietary global network like Wise, businesses only need reliable on- and off-ramps in specific corridors. This lowers market entry barriers, fosters competition among local providers, and can drive down costs, particularly for niche or underserved corridors (e.g., US to Africa). While vertical integration may reoccur, the open, permissionless nature of the underlying blockchain layer makes monopolistic pricing difficult. The long-term benefit is the potential redistribution of value—previously captured as intermediary rents—to consumers through lower costs."

marsbit08/21 10:11

Is Stablecoin Really Necessary for Cross-border Payments?

marsbit08/21 10:11

HSBC and Standard Chartered Execute First Transaction on SWIFT Blockchain System

HSBC and Standard Chartered have conducted the first interbank transaction using tokenized deposits on SWIFT's blockchain infrastructure. The DLT solution orchestrated the process by matching the parties’ obligations and netting reciprocal claims before final settlement via existing systems. Commitments in tokenized form were recorded using HSBC's Tokenised Deposit Service and Standard Chartered’s digital infrastructure. This pioneering real transaction within SWIFT’s ledger demonstrated interoperability of digital bank money across different organizations while maintaining existing regulatory oversight and controls. HSBC's head of digital assets highlighted the potential for corporate clients to simplify liquidity transfers between banks, increase transparency of cash positions, and reduce complexity in cross-border operations. SWIFT had announced readiness of its blockchain ledger in July 2026, with 17 banks across six continents preparing for pilot operations. The company has been experimenting with interoperability between traditional systems, CBDCs, and cryptocurrencies since 2022 and integrated blockchain into its tech stack in September 2025. Separately, major US banks like JPMorgan Chase and Citigroup are planning to launch a tokenized deposit network in the first half of 2027.

cryptonews.ru08/19 13:11

HSBC and Standard Chartered Execute First Transaction on SWIFT Blockchain System

cryptonews.ru08/19 13:11

Attention XRP Investors: Ripple Announces Partnership with Major Bank! 'This will be the first bank of its kind in the country!'

Despite XRP's significant ongoing price surge, Ripple is solidifying its lead in the blockchain ecosystem by expanding its corporate digital asset services through new global partnerships. The company announced a strategic partnership with Jeonbuk Bank, a major regional bank in South Korea under JB Financial Group. Jeonbuk Bank will utilize Ripple Payments infrastructure for cross-border commercial transactions, becoming the first regional bank in South Korea to do so. The partnership aims to provide faster cross-border payment services for corporate clients like import/export firms, tech startups, and online content creators. Ripple's technology processes payments in seconds or minutes, operating 24/7, and can streamline the traditional SWIFT-based international transfer process by eliminating multiple intermediaries for near real-time settlement. Ripple's APAC General Manager highlighted growing Korean corporate finance interest in digital asset infrastructure, while the bank's chairman stated the move aims to boost competitiveness in digital financial services and expand global service offerings.

cryptonews.ru08/18 16:10

Attention XRP Investors: Ripple Announces Partnership with Major Bank! 'This will be the first bank of its kind in the country!'

cryptonews.ru08/18 16:10

South Korea’s Jeonbuk Bank taps Ripple for cross-border payments

South Korea's Jeonbuk Bank has partnered with Ripple to implement its Ripple Payments platform for business customers. The service aims to enable near-instant, 24/7 cross-border transfers, offering a faster and cheaper alternative to traditional SWIFT-based transactions. While targeting businesses like import-export firms and tech startups, specific details on availability, supported currencies, corridors, fees, and whether it will use XRP, RLUSD, or other settlement methods were not disclosed. This marks Ripple's third partnership with a South Korean financial institution this year.

cointelegraph08/18 13:11

South Korea’s Jeonbuk Bank taps Ripple for cross-border payments

cointelegraph08/18 13:11

South Korean Jeonbuk Bank partners with Ripple for cross-border payments

South Korea's Jeonbuk Bank has partnered with blockchain payments firm Ripple to implement a cross-border payment system for its corporate clients. Using Ripple Payments, clients, including import/export companies, tech startups, and online content creators, can conduct international money transfers 24/7 in seconds or minutes. Ripple claims this system will be faster and cheaper than traditional SWIFT transfers, which can take several days. The companies did not disclose the service's current availability, supported corridors, currencies, fees, or expected transaction volumes. It is also unclear whether transfers will utilize XRP, Ripple's RLUSD stablecoin, another digital asset, or traditional fiat settlement. This marks Ripple's third partnership with a South Korean financial institution this year, following deals with Kyobo Life Insurance for on-chain government bond settlement and Kbank for institutional wallet infrastructure.

cryptonews.ru08/18 05:15

South Korean Jeonbuk Bank partners with Ripple for cross-border payments

cryptonews.ru08/18 05:15

$7 Trillion Bypassing the Dollar: How China Built an Alternative to SWIFT

The article discusses China's development of the Cross-border Interbank Payment System (CIPS) as a yuan-based alternative to SWIFT, driven by global de-dollarization efforts following the use of the US dollar as a political tool. Launched in 2015, CIPS now processes cross-border payments equivalent to roughly $7 trillion monthly. Its growth accelerated after key geopolitical events, most notably the 2022 freezing of Russian reserves, prompting countries to diversify away from dollar-dependent systems. While CIPS has expanded to over 1,800 participant institutions, the yuan's share in global payments remains modest at 3.1%, far behind the dollar. The article notes CIPS still relies on SWIFT for about 80% of its message routing, positioning it more as a supplement than a full replacement. A key unresolved challenge is whether CIPS can overcome the fundamental barrier posed by China's capital controls and the yuan's limited convertibility.

cryptonews.ru08/08 15:56

$7 Trillion Bypassing the Dollar: How China Built an Alternative to SWIFT

cryptonews.ru08/08 15:56

SWIFT Shared Ledger Launches Live Pilot, How Will the 50-Year-Old Payment Network Reconstruct the Financial System?

SWIFT, a global financial messaging provider with a 50-year history, has launched a live pilot of a blockchain-based "shared ledger" in July 2026, involving 17 major banks. This marks a direct move by traditional finance to upgrade its core payment infrastructure using blockchain technology, transforming SWIFT's role from a messaging channel to a "value orchestration layer" for digital payments. The system is built on Hyperledger Besu (EVM-compatible) and integrates Chainlink's CCIP for cross-chain interoperability. It deepens the fusion of the ISO 20022 messaging standard with smart contracts to automate compliance (KYC/AML). The primary settlement medium in this network is "tokenized deposits"—digital representations of traditional bank deposits, not independent stablecoins—preserving the existing two-tier banking system. The move introduces "atomic settlement" (24/7, instant) but requires banks to adopt "pre-funding" models, increasing demands on liquidity management. It presents direct competitive pressure on native blockchain payment tokens (e.g., XRP) by offering an efficient, bank-backed alternative for cross-border settlement. Significant regulatory hurdles remain, including legal jurisdiction over cross-border digital assets, legal definitions of "settlement finality" for smart contracts, and balancing blockchain transparency with data privacy/localization laws. Technologies like zero-knowledge proofs may be needed to resolve privacy-compliance conflicts. Industry views are mixed: participating banks and SWIFT emphasize extending trusted, compliant finance into the digital realm with real-time efficiency, while crypto analysts warn of potential "liquidity backlash" as capital flows back to the traditional, now-tech-enhanced banking system. This pilot signifies that traditional finance and crypto are entering a phase of direct competition and fusion at the infrastructure level, likely leading to a future of interconnected, highly regulated financial networks rather than a fully decentralized system.

marsbit07/28 07:41

SWIFT Shared Ledger Launches Live Pilot, How Will the 50-Year-Old Payment Network Reconstruct the Financial System?

marsbit07/28 07:41

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