SWIFT will begin testing crypto assets in 2025, with the participation of global banks

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SWIFT will begin testing crypto assets in , with the
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SWIFT will begin testing crypto assets in 2025, with the participation of global banks
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The Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced that, from 2025, it will begin testing crypto assets on its network. The initiative will involve banks from North America, Europe and Asia. The aim is to explore transactions with multiple digital currencies and assets, aiming to provide financial institutions with unified access to different classes of digital assets and currencies.

According to the statement released on October 3, SWIFT testing will initially focus on use cases involving payments, foreign exchange, securities and commerce. These operations will include delivery-versus-payment and payment-versus-payment mechanisms across multiple distributed ledger systems, known as “multi-ledgers.”

SWIFT highlighted the rapid growth of disconnected platforms and technologies in the digital asset sector. According to the entity, this results in an increasingly fragmented scenario. This fragmentation, in turn, creates significant obstacles to the global adoption of these assets, forming what have been described as “digital islands”.

SWIFT believes that this lack of integration between the various cryptoasset networks represents a challenge to the interoperability and advancement of digital assets in the global financial system.

Integration between digital assets and traditional currencies

To overcome these challenges, SWIFT plans to utilize its global position and widely used infrastructure to bridge these fragmented networks. The proposal is to connect cryptoactive networks with each other and with traditional fiat currencies. In practice, this will allow the global financial community to seamlessly transact with digital assets and traditional forms of value.

The tests, expected to begin in 2025, also aim to ensure that banks and other financial institutions can operate in a more cohesive ecosystem. In it, digital assets and traditional currencies coexist efficiently.

This initiative is another step by SWIFT towards innovation in the financial sector, seeking to meet the needs of an increasingly digitalized market. At the same time, the organization seeks to preserve integration with the traditional financial system.

The SWIFT network has played an essential role in facilitating international financial transactions, and this move to incorporate digital assets into its operations could represent an important advancement in the global adoption of these new technologies.

SWIFT will begin testing crypto assets in 2025, with the participation of global banks

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SWIFT will begin testing crypto assets in 2025, with the participation of global banks

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SWIFT will begin testing crypto assets in 2025, with the participation of global banks

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