{"id":30400,"date":"2024-10-03T22:00:43","date_gmt":"2024-10-03T19:00:43","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=30400"},"modified":"2024-10-03T20:10:21","modified_gmt":"2024-10-03T17:10:21","slug":"banks-to-use-swift-tokens-starting-in-2025","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/banks-to-use-swift-tokens-starting-in-2025\/","title":{"rendered":"Banks to Use Swift Tokens Starting in 2025"},"content":{"rendered":"<p>Banks will begin to process token transactions over the Swift network starting in 2025. Both commercial and central banks will be able to conduct live trials of digital asset transactions on the Swift messaging network starting next year, accelerating institutional adoption of blockchain technology.<\/p>\n<p>The organization that manages Swift\u2019s global network announced that it will test blockchain-based transactions, previously only tested in test environments, with real money and asset movements between different blockchain ledgers. This change will serve as a link for banks experimenting with blockchain technology across platforms.<\/p>\n<p>Swift\u2019s Head of Innovation Nick Kerigan said they want to avoid the technological fragmentation that occurs when banks develop their own blockchain infrastructures. \u201cOur goal is to ensure that digital assets and digital currencies, regardless of the technology they are created with, work seamlessly with the existing financial system,\u201d he said.<\/p>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/what-is-babydoge\/\">What is BabyDoge?<\/a><\/em><\/p>\n<p>Swift has been testing blockchain-based transactions to support central bank digital currencies (CBDCs) since 2021. This new step will see the first live testing of digital asset transactions on the Swift network. The trials will cover payment transactions and securities exchanges.<\/p>\n<p>Banks that have previously participated in Swift\u2019s blockchain trials include major banks such as Deutsche Bank, HSBC, NatWest Group, Santander and Sumitomo Mitsui Banking Corp. Swift emphasizes that as the financial community embraces new technologies such as blockchain and digital assets, it is imperative to incorporate these technologies into its own ecosystem.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banks will begin to process token transactions over the Swift network starting in 2025. Both commercial and central banks will be able to conduct live trials of digital asset transactions on the Swift messaging network starting next year, accelerating institutional adoption of blockchain technology. The organization that manages Swift\u2019s global network announced that it will<\/p>\n","protected":false},"author":6,"featured_media":19843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[8894,8892,8893],"class_list":["post-30400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-banks","tag-swift","tag-swift-token"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banks to Use Swift Tokens Starting in 2025 - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/banks-to-use-swift-tokens-starting-in-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks to Use Swift Tokens Starting in 2025 - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Banks will begin to process token transactions over the Swift network starting in 2025. Both commercial and central banks will be able to conduct live trials of digital asset transactions on the Swift messaging network starting next year, accelerating institutional adoption of blockchain technology. 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