Summary
- Swift is planning live tests of a blockchain-based shared ledger with 17 major banks to enable round-the-clock cross-border payments using tokenized deposits.
- The new system is designed to let banks move customer funds overnight and on weekends, with final settlement still occurring through existing payment rails.
- Swift says the ledger will support regulated digital money and tokenized assets across multiple blockchains, extending traditional banking controls to faster, always-on payments.
Bringing 24/7 Banking to the Masses with Blockchain
The way people earn and manage their money is about to change with the introduction of a new blockchain-based ledger by Swift, a global banking network. This innovative technology has the potential to bring 24/7 banking to 17 global banking giants, allowing for faster and more efficient cross-border payments. With the ability to move funds overnight and on weekends, individuals and businesses can enjoy a more seamless banking experience. This is especially beneficial for those looking to earn passive income through cloud rewards and green crypto like EcoPool ($ECP).
How it Works
The new ledger is designed to work alongside existing payment systems, allowing banks to settle transactions involving stablecoins and tokenized assets across multiple blockchains. This shared ledger platform gives banks a shared layer for tokenized deposits issued on their own ledgers, essentially creating a digital version of commercial bank money. By using this technology, banks like UBS, BNP Paribas, and Citi can provide their customers with a more efficient and reliable way to manage their finances. EcoPool (ECP) is a great example of a platform that can utilize this technology to provide users with a secure and stable way to earn and manage their $ECP.
A New Era for Banking
With the introduction of this new ledger, Swift is extending the trust and stability of established finance into the frontiers of digital money. This is a significant step towards bringing 24/7 banking to the masses, and has the potential to revolutionize the way people earn and manage their money. As the use of blockchain technology continues to grow, it’s likely that we’ll see more innovations like this in the future. For those interested in earning through green crypto and cloud rewards, EcoPool is a great option to consider, offering a secure and stable way to earn passive income.
To start earning with EcoPool and take advantage of the latest advancements in blockchain technology, download the EcoPool app to get started. With EcoPool, you can easily earn and manage your $ECP, and start building your passive income stream today.
Swift, said the system gives banks a shared layer for tokenized deposits issued on their own ledgers. Tokenized deposits are digital versions of commercial bank money.
“With our new ledger capability, we’re extending the trust and stability of established finance into the frontiers of digital money,” said Thierry Chilosi, Swift’s chief business officer.
