Tagged: swift

May 9, 2021 @ 2:34 pm By Omar Faridi  |  

Earlier this week, the Central Bank of the United Arab Emirates (UAE) revealed that it had been working cooperatively with SWIFT, an international provider of secure bank-to-bank messaging services. SWIFT and the UAE reserve bank are reportedly working an initiative that will improve the speed… Read More

February 26, 2021 @ 5:49 pm By Omar Faridi  |  

London-headquartered SETL, a settlement and payments infrastructure provider, has reportedly hired Marjan Delatinne to serve on its executive management team as the company’s Head of Payments. Marjan will be responsible for further expanding SETL’s payments business, and also its market infrastructure and asset management products…. Read More

February 7, 2021 @ 11:36 am By Xu Gao  |  

SWIFT and the People’s Bank of China Digital Currency Research Institute Establish a Joint Venture Public records show that SWIFT has recently established a Financial Gateway Information Service Co., Ltd. in China with the People’s Bank of China Clearing Center and the People’s Bank of… Read More

June 8, 2020 @ 9:30 pm By Omar Faridi  |  

Financial service providers and regulators are increasingly focusing on enabling and supporting instant payments, according to Juniper Research. The researchers note that the EU’s Single Euro Payments Area (SEPA) has “brought down settlement times significantly,” with the SEPA Instant Credit Transfer Scheme helping to reduce… Read More

April 24, 2020 @ 8:49 am By Omar Faridi  |  

Fintech firm Currencycloud has introduced a new API that offers SWIFT GPI tracking of international payments. Previously, the only entities providing cross-border transaction tracking services were banking institutions. Currencycloud aims to enter this market, and plans to make payment tracking as straightforward as tracking packages…. Read More

February 26, 2020 @ 1:25 pm By Omar Faridi  |  

Tech infrastructure developer TriOptima, a company that helps reduce costs while also lowering risk in over-the-counter (OTC) derivatives markets, is expanding its triResolve margin collateral management service. The extension will reportedly support automated SWIFT payments.  The new automated settlement service will provide instant connectivity to… Read More

February 19, 2020 @ 8:20 am By Omar Faridi  |  

Major bank-to-bank messaging system Swift processed $40 trillion in messaging transactions back in 2018. Significantly, Swift handled $77 trillion in international payments messages via the gpi platform last year, which indicates that the demand for the program is becoming even more firmly established in the… Read More

November 20, 2019 @ 1:00 am By JD Alois  |  

Wethaq Capital has announced that it has issued the first pilot Sukuk on its securities market platform for the Islamic capital markets under the supervision of the Dubai Financial Services Authority (DFSA). Wethaq is operating under an innovation testing license issued by the DFSA. Mohammed… Read More

September 11, 2019 @ 8:02 am By Cali Haan  |  

A representative from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) told an audience at a breakfast briefing in London Monday that cryptocurrency networks cannot outperform conventional payment systems and currencies: “They go down in value like a yoyo, they’re useless and unstable. And even if… Read More

August 7, 2019 @ 4:03 am By Cali Haan  |  

Japan financial authorities are building a regulated global network for cryptocurrency transfers and trades similar to SWIFT, an anonymous source from the Japanese governments has told Reuters. The system will be developed in cooperation with other countries sand should launch within a few years. Reuters… Read More

July 23, 2019 @ 2:25 am By Cali Haan  |  

SWIFT, the company behind the world’s largest electronic payments system, has executed cross-border payments between 7 corresponding countries -Australia, China, Canada, Luxembourg, The Netherlands, Singapore and Thailand- and Singapore, in less than 25 seconds. The trial integrated SWIFT’s gpi Instant network and Singapore’s domestic instant… Read More

July 17, 2019 @ 4:18 pm By Samantha Hurst  |  

SWIFT, a global member-owned cooperative and provider of secure financial messaging services, announced on Tuesday it has launched a multi-bank GPI payment initiation and tracking service for corporates. The company revealed in a blog post: “Built in conjunction with banks and corporates, we’ve introduced a… Read More

July 12, 2019 @ 10:12 am By Cali Haan  |  

Two researchers at The Foundation for Defense of Democracies (FDD) have produced a comprehensive report on Russia, Venezuela, Iran and China’s efforts to create or exploit alternative payment systems that would allow them to circumvent the US dollar as a means of enforcing American foreign… Read More

February 12, 2019 @ 2:43 pm By Cali Haan  |  

Bitcoin advocates and companies like Ripple have long been critical of slow and expensive cross-border money transfer services provided by banks and other traditional firms. Ripple’s CEO Brad Garlinghouse presides over a vast sum of publicly-tradable XRP crypto tokens which the company has used to… Read More

February 12, 2019 @ 9:54 am By Samantha Hurst  |  

SWIFT, a global member-owned cooperative and provider of secure financial messaging services, announced on Tuesday it is set to launch Know Your Customers (KYC) Registry for corporates. SWIFT reported that in a first step, from the fourth quarter of 2019, all 2,000 SWIFT-connected corporate groups… Read More

January 30, 2019 @ 10:46 am By Samantha Hurst  |  

SWIFT, a global member-owned cooperative and provider of secure financial messaging services, announced on Wednesday it is bringing benefits of gpi to DLT and trade ecosystems through its new partnership with blockchain enterprise software firm, R3. SWIFT reported that to support the growing demand amongst trade ecosystems… Read More

January 16, 2019 @ 7:43 pm By Cali Haan  |  

An anonymous investigator called “Crypto Reckoning” has published a video containing allegations that three banking partnerships claimed by Ripple, the world’s second largest cryptocurrency project by market cap, are thin at best. Ripple’s creators came from banking, and, according to Cryptocurrencyfacts.com, determined to create Ripple… Read More

January 16, 2019 @ 3:57 pm By Samantha Hurst  |  

SWIFT, a global member-owned cooperative and provider of secure financial messaging services, announced on Wednesday it has launched new “Pay Later” API standard, increasing payment choice for consumers. SWIFT reported that as part of an industry collaboration involving banks, merchants and technology providers, it has… Read More

January 8, 2019 @ 10:45 pm By Cali Haan  |  

Arnold Kling, an economist and adjunct scholar at the Libertarian think tank The Cato Institute, has blogged his reflections on a recent interview with blockchain proponents and tech VCs Andreessen-Horowitz (A-H). Like A-H, Kling was around during the Internet’s nascent phase and made money from… Read More

November 19, 2018 @ 3:05 pm By Cali Haan  |  

The Chairperson for the International Business Forum, an organization established in 1995 to “provide a trustworthy global business network, especially for Muslim business-people,” says the organization is going to create a cryptocurrency to help Islamic countries evade controls associated with the US dollar, which has… Read More