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

ChainCatcher News, according to Golden Ten Data, 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, HSBC Holdings, Bank of America, and Deutsche Bank. The first prototype will focus on real-time, 24/7 cross-border payments and will use technology from the US blockchain software company Consensys. The ultimate goal is to allow members to use the network for transactions involving various digital assets.