Global payments system says its cross border payments are reaching banks within an hour but wholesale payments and interoperability between markets will remain a key focus.
Just as others – including heavyweights IBM and JP Morgan – are racing into the cryptocurrency space, Citibank is getting out. Just how useful will this kind of tech be for corporate treasury?
Some of the world’s top companies – also including Roche, GE and others – join Swift’s global payment initiative pilot. But whether other “Swift corporates” will be able to go GPI-active remains to be seen.
The bank has moved $900 million across borders at lightning speed since tapping Ripple's blockchain solution. Its transaction services chief tells CT how, and details the limits of the system.
International payment network Swift has a long record but blockchain-based upstarts such as Ripple are nipping at its heels. Here, insiders from Swift and Ripple go head to head.