SWIFT Expands Testing of Blockchain Networks for Cross-Border Payments

International payments giant SWIFT is venturing into the realm of blockchain technology, testing Ripple’s XRP Ledger and Hedera’s Hashgraph to streamline cross-border transactions. This initiative aims to bridge the gap between traditional banking systems and cutting-edge digital infrastructure using ISO 20022 standards as a framework for integration. The trial represents an exciting step toward connecting established financial processes with blockchain innovations. Experts are closely watching this development, seeking evidence of SWIFT’s long-term vision and commitment to exploring the transformative potential of blockchain in global finance.