SWIFT launches blockchain-based ledger project to support cross-border payments

ChainCatcher news, according to Jin10 reports, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) will add a blockchain-based ledger to its infrastructure and has initiated design and construction work with more than 30 global financial institutions, including JPMorgan Chase, HSBC Holdings, Bank of America, and Deutsche Bank. The first prototype will focus on real-time, 24/7 cross-border payments and will utilize technology from the American blockchain software company Consensys. The ultimate goal is to allow members to conduct transactions involving various digital assets using the network.