SWIFT, the global payments network, is making strides in the world of blockchain-based transactions. Cross-border payments are projected to reach a valuation of approximately $250 trillion by 2027. A survey of 4,000 consumers and SMEs across eight key markets revealed that banks remain the preferred choice for many due to the high level of trust customers have in their processes and security. However, some participants acknowledged using alternative methods due to the primary drivers of speed, user-friendliness, and transparency.SWIFT Go has gained significant traction, with over 600 banks joining, with 400 already operational. SWIFT has also entered a new phase in its Central Bank Digital Currency (CBDC) interoperability experiment, with three central banks, including the Hong Kong Monetary Authority and the National Bank of Kazakhstan, beta testing its CBDC interlinking solution.In a significant development, Ripple has recently forged a strategic partnership with the global e-commerce giant Amazon. This collaboration entails the integration of XRP into Amazon’s payment operations, marking a notable advancement in the cryptocurrency’s adoption.SWIFT has partnered with Ripple and Stellar to drive the transformation of the global payment system. Ripple’s XRP is renowned for its ability to expedite international transactions, outperforming traditional financial systems in terms of speed. Stellar is also dedicated to facilitating rapid and cost-effective transactions, with a particular emphasis on its distinctive Interoperability feature that sets it apart from other blockchains. Through regulated financial institutions known as anchors, the Stellar network can seamlessly collaborate with both other blockchains and conventional financial infrastructure. These anchors also have the capacity to issue assets and facilitate entry and exit points to and from the Stellar network.

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Information	Details
Geography	Global
Countries	🇭🇰 🇰🇿 🇨🇦 🇫🇷 🇸🇬 🇩🇪 🇬🇧
Sentiment	neutral
Relevance Score	8
People	Royal Bank of Canada, BNP Paribas, Monetary Authority of Singapore, Banque de France, HSBC, Tanja Haase, Swift, NatWest., Hong Kong Monetary Authority, National Bank of Kazakhstan, Société Générale, Deutsche Bundesbank
Companies	Hong Kong Monetary Authority, Ripple, Swift, Stellar, National Bank of Kazakhstan
Currencies	Hong Kong Dollar, Bitcoin, Ethereum, XRP, kazakhstani tenge
Securities	None