Bazar Money Transfer的动态

?? Swift to Pilot Tokenized Transactions for Banks: A New Era of Cross-Asset Integration! ?? Swift has announced a groundbreaking initiative that will allow financial institutions to pilot tokenized transactions on its global messaging network starting next year. This move aims to bridge the growing number of “digital islands”—disconnected digital platforms—by enabling banks to seamlessly transact across both digital and fiat currencies. ???? ?? Key Takeaways: - Solving Fragmentation: Swift’s trials focus on interlinking digital and traditional currency platforms, addressing the challenge of fragmented adoption in the $30 trillion tokenized asset market projected by 2034. - Global Reach: 134 countries are currently exploring Central Bank Digital Currencies (CBDCs). Swift’s initiative is set to enhance interoperability and support the growth of these new digital assets. - Institutional Interest: 91% of institutional investors have expressed interest in tokenized assets, and Swift’s pilot aims to demonstrate real-world use cases for settling digital and traditional currencies alike. ?? What does this mean for the future of finance? If successful, Swift’s global network could become the backbone for digital asset transactions, enabling smoother cross-border transfers and fueling the broader adoption of tokenization in mainstream finance. ?? Check out the full article on PYMNTS to learn more about this exciting development: https://hubs.li/Q02TjHTk0 #Swift #Tokenization #DigitalAssets #FinanceInnovation #CBDC #Blockchain #infineo

Global Banks to Participate in SWIFT Digital Asset Trials in 2025 In a major step toward the future of global finance, Central banks and commercial banks across North America, Europe, and Asia are set to participate in SWIFT's digital asset trials beginning in 2025. Traditionally known for its global interbank communication network, SWIFT is now expanding into digital currencies and assets, aiming to integrate traditional finance with the digital economy. Key Objectives of the Trials Starting in 2025, these trials will explore how SWIFT’s network can provide financial institutions access to multiple digital asset classes and currencies. The trials will focus on payments, foreign exchange, securities, and trade, involving both traditional and digital currencies. SWIFT aims to streamline transactions such as delivery-versus-payment (DvP) and payment-versus-payment (PvP) across different systems, making transactions more efficient. Tackling Fragmentation in the Digital Asset Landscape One of the main challenges facing digital assets is the fragmentation of platforms and technologies. This creates isolated networks, often referred to as “digital islands,” which complicates global adoption. SWIFT’s trials aim to solve this by using its extensive infrastructure to connect separate blockchain networks and create smoother interoperability between digital assets and traditional financial systems. A Multi-Ledger, Interoperable Approach SWIFT’s approach does not rely on a single blockchain but aims to enable interoperability across multiple blockchain networks, both public and private. SWIFT has already proven its ability to connect with different blockchain platforms through experiments, including a collaboration with Chainlink, linking its network to the Ethereum Sepolia testnet. The trials will explore how financial institutions can access a wide range of digital assets via a single platform. By enabling interoperability, SWIFT hopes to become a key player in reducing the fragmentation of the digital asset ecosystem. This initiative will make it easier for financial institutions to adopt digital currencies and improve the efficiency of global transactions. Driving Digital Asset Adoption Through its focus on interoperability, SWIFT is addressing a major barrier to the widespread use of digital assets. By creating a global standard that links digital and traditional assets, SWIFT’s trials could simplify adoption for banks, enhancing the efficiency of payments, foreign exchange, and securities trading on a global scale. #SWIFT #blockchains #banks #payments image source: Grok

?? We are delighted to announce an Open Call for Expression of Interest for our upcoming Instant Cross-Border Settlements Proof of Concept (PoC), Surpassing the G20 Targets. We invite potential PoC partner central and commercial banks from various global locations to participate in an instant cross-border settlement PoC involving multiple currency pairs. The PoC will be conducted in a secured and controlled simulated environment, with no real money involved. Our goal is to showcase PayNetX's capabilities in terms of Cost, Speed, Transparency and Access, not only meeting but significantly surpassing the targets set in the G20 cross-border payments roadmap. This will be achieved within today's capital markets, without reliance on cryptocurrencies, crypto markets, stablecoins, or CBDCs, thereby creating a positive global economic impact. Financial institutions interested in participating are encouraged to express their interest via the contact form on our website or by emailing us at [email protected] https://lnkd.in/drB7R-Am #G20 #G20targets #crossborderpayments #instantsettlements #innovation #innovativetechnology #dlt #financialinclusion #PoC

Banks Moving to Crypto Live trials of digital asset transactions on Swift to start in 2025. Starting next year banks across North America, Europe, and Asia will embark on live trials of digital assets and currency transactions over the Swift network.

Embracing DeFi for Economic Growth and Inclusion: Lessons from Brazil's Central Bank - In the rapidly evolving world of finance, decentralized finance (DeFi) stands out as a transformative force, especially in emerging economies. By enhancing financial inclusion, DeFi can significantly uplift the economic landscape and improve the lives of countless individuals. - A prime example of proactive regulatory engagement with DeFi is seen in Brazil. The Brazilian Central Bank has been at the forefront, not just adapting to but also advancing the integration of DeFi into mainstream financial systems. Their strategic deployment of innovative solutions like Pix and the upcoming Digital Real (DREX) highlights a commitment to leveraging DeFi for greater financial inclusion and economic empowerment. - Pix, launched in 2020, revolutionized money transfers, reaching over two-thirds of Brazil's population. This platform's success paved the way for DREX, a digital currency initiative aimed at further simplifying transactions and integrating the unbanked into the financial system. - Such initiatives underscore the critical role of regulators in crafting an ecosystem where traditional and decentralized financial systems coexist and thrive. Brazil's Central Bank exemplifies how strategic regulatory frameworks can facilitate the adoption of DeFi, promising a more inclusive and efficient financial future. ???Read more about Brazil's innovative approach to DeFi and its impacts https://lnkd.in/g_VCNBE3 #DeFi #FinancialInclusion #DigitalCurrency #Brazil #CentralBanking #Innovation #EconomicGrowth #Fintech Feel free to connect and discuss how DeFi can transform financial landscapes across the globe! ???

?? The Future of Money is Here: Dive into Central Bank Digital Currencies (CBDCs)!??? The fintech revolution is unstoppable, and at its forefront are Central Bank Digital Currencies (CBDCs). Imagine a world where money is not just digital, but smarter, faster, and more secure. CBDCs are set to transform the financial ecosystem, bridging the gap between traditional banking and the cutting-edge world of cryptocurrencies. ???Why should you care? ? Speed and Efficiency:?Instant transactions, anytime, anywhere. ? Financial Inclusion:?Banking the unbanked with ease. ? Security:?Government-backed assurance in the digital age. Don’t miss out on the fintech wave that’s changing the game. Read more about how CBDCs are poised to revolutionize money as we know it:?https://lnkd.in/gRV5Bxjv #Fintech #DigitalCurrency #CBDC #Innovation #FutureOfMoney #FinanceRevolution

The landscape of payment methods has changed so much in the last twenty years - now we contend with cryptocurrencies, central bank digital currencies (CBDCs), and NFTs. These new payment methods and technologies present an exciting opportunity for us to provide innovative payment solutions adapted to changing consumer preferences and technological advancements. I enjoy keeping tabs on new technology and thinking about how we could leverage it at Visa. But of course, our priority as always is providing a seamless payment experience for our customers. #Visa #Payments #Singapore #CBDCs #NFTs

Swift is set to launch its live trial of digital assets and currencies in 2025 #SWIFT, the global financial messaging network founded in 1973 and owned by its member financial institutions, is set to launch live trials of #digital #asset and #currency transactions next year. This marks a significant leap from previous test environments to real-world applications, aiming to facilitate large-scale institutional adoption of digital assets. The upcoming live pilots will involve commercial and central banks across Asia, Europe, and North America. Using an advanced version of SWIFT's infrastructure, these banks will be able to transact interchangeably across both existing and emerging asset and currency types through their current SWIFT connections. This initiative addresses a critical challenge in the digital asset market: the rise of "digital islands" or disconnected digital platforms that hinder widespread adoption and ease of use. With 134 countries currently exploring Central Bank Digital Currencies (#CBDCs) and the tokenized assets market projected by Standard Chartered and Synpulse to reach up to $30 trillion by 2034, the need for interconnected platforms is more pressing than ever. SWIFT aims to leverage its vast global network to interlink various digital and traditional currency platforms, providing a unified system for banks to transact seamlessly across borders. Tom Zschach, Chief Innovation Officer at SWIFT, commented: "For digital assets and currencies to succeed on a global scale, it’s critical that they can seamlessly coexist with traditional forms of money. With our vast global reach, we are uniquely positioned to bridge both emerging and established forms of value, and we’re now focused on demonstrating this in real-world, mainstream applications." The article on Finextra in the first comment.

Today's #Fintech Digest includes: -?A report by the Bank for International Settlements (BIS) and seven advanced economy (AE) central banks on retail central bank digital currency (#CBDC) system design and legal considerations.? -?The Russian Ministry of Industry and Trade calling for a two-year delay to making merchant acceptance of digital ruble payments mandatory on infrastructure readiness concerns.? -?SBI Digital Markets, UBS Asset Management, and #Chainlink implementing a tokenized fund as part of the Monetary Authority of Singapore (MAS) Project Guardian. For more detail go to: https://lnkd.in/ecDWBGbX

How to further scale CBDCS and tokenized money Over 134 countries, accounting for 98% of global GDP, are exploring central bank digital currencies, with pilots aimed at promoting innovation, stability, and financial inclusion. The digital asset ecosystem has grown with numerous CBDCs and digital money forms in operation and 68 countries in advanced development phases, requiring established technology, regulation, and use cases. Cross-border payments inefficiencies and foreign exchange exposures are causing issues in many countries. Interoperability of systems, including CBDCs and real-time gross settlement, is crucial for digital money's potential and efficient transactions. Read more at ?? https://okt.to/CjFSDv #CDBC #Fintech #Tokenisation #money #technology #digitalassets #digital