For those of you in the back, here's the quiet part out loud: SWIFT is how banks talk to each other about moving money. Not a bank itself. The infrastructure underneath: "Payment X coming from Bank A to Bank B. Here's the routing info." 11,500 institutions. 200+ countries. $150 trillion/year in payments. In terms of financial infrastructure, it doesn't get bigger than this. And now, they're working with Consensys to build on Ethereum. This is the same week that JPMorgan (the world's most valuable bank) launched their first money market fund on Ethereum. The largest bank, and the largest infrastructure connecting all banks. Both Ethereum. This is the most significant week for Ethereum adoption in traditional finance in history.
Swift
@swiftcommunity
12-19
We’re already making progress with our plans to add a blockchain-based ledger to our infrastructure, working with a global group of 30+ banks globally to shape the ledger’s design.
“In order to unlock that benefit of scale, we need to work together,” said Thierry Chilosi, our
Sector:
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content
