Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

SWIFT will test transactions with digital currencies


October, 03 2024
watermark Economic news

The SWIFT international system plans to start testing transactions with tokenized assets and digital currencies in real time in 2025.


Banks and asset managers have been exploring the possibility of "tokenizing" traditional assets such as bonds for several years in order to speed up and reduce the cost of trading operations, as well as increase their efficiency by eliminating intermediaries. However, tokenization has not yet become widespread.


At the moment, about 90% of the world's central banks are testing digital currencies (CBDC) – digital versions of fiat money, which contributes to the development of trade in tokenized assets. Monetary authorities are seeking to adapt the technologies that have made possible the emergence of cryptocurrencies such as bitcoin.


SWIFT, which plays a key role in the global banking system, is actively involved in CBDC and tokenized asset trials. In March, the company launched a new platform that allows you to connect the CBDC being developed to the existing financial system. According to Nick Kerigan, head of SWIFT's innovation department, the industry is increasingly striving to move from testing to full-fledged operation of digital assets with real monetary settlements. This phase is expected to begin next year.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.