Blockchain 24/7 cross-border remittances have been piloted at 17 banks globally, as Swift pushes for tokenized deposit adoption

Odaily News: Swift is currently advancing the application of blockchain technology in international interbank remittance services. It has launched a pilot with 17 banks worldwide, including Citigroup and Mitsubishi UFJ Bank, attempting to use tokenized deposits to enable 24/7 instant cross-border remittances. The initiative will verify the effectiveness of reducing remittance times and lowering fees, and further promote the adoption of tokenized deposits.