Cross-border payments infrastructure company Thunes announced it is expanding its stablecoin settlement capabilities by connecting to the SWIFT network.

According to a report by Prnewswire, cross-border payment infrastructure company Thunes announced that it has extended its stablecoin settlement capabilities to 11,500 banks worldwide by connecting to the SWIFT network, enabling interoperability between the traditional financial system and digital assets. Businesses and financial institutions can directly settle stablecoin payments to SWIFT-connected bank accounts through the Thunes network, without the need for additional off-chain conversion processes. This solution aims to reduce friction costs in cross-border payments and improve settlement efficiency.