SWIFT tests tokenized deposit cross-border payments with 17 banks
According to the Nikkei, SWIFT has launched a pilot project in collaboration with 17 banks including Citigroup, Mitsubishi UFJ, Wells Fargo, Bank of New York Mellon, UBS, and BNP Paribas to test tokenized deposit cross-border payments.
The goal of this pilot is to achieve 24/7 instant transfers between different banks and reduce the cost of cross-border payments.
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