SWIFT announces plans to use blockchain technology

The international interbank payment system SWIFT has announced plans to use blockchain technologies. SWIFT representatives stated that digital assets are the main topic in the field of innovation, which is why the payment system will expand its capabilities in the field of cryptocurrencies.

It is hoped that the SWIFT Hackathon 2022 event will help solve «the most complex technological problems» by attracting representatives of the computer and financial industries. In addition, to analyze the pros and cons of blockchain technologies, SWIFT plans to bring together developers of cryptocurrency platforms and other specialists involved in the development of digital assets and NFTs.

SWIFT is not the only payment system interested in the use of blockchain technologies and cryptocurrencies. In late June, Visa announced the launch of bank cards in Latin America that will support cryptocurrency payments. The launch will take place in partnership with Latin American startups: Satoshi Tango, Lemon Cash, Zro Bank, and Afterbank. Cardholders of these startups will be able to pay with digital currencies, buy crypto assets on platforms that support the Visa payment system, and receive a refund for purchases in bitcoin.