Financial TimesFinancial Times

How blockchain is shaking Swift and the global payments system

By Gillian Tett

22 Jul 2021 · 3 min read

Last month, the Brussels-based utility called the Society for Worldwide Interbank Financial Telecommunication (Swift) announced that six global banks had embraced its plan to upgrade cross-border payment systems.

So far, so boring, many might think. Payment processes rarely grab public or political attention, unless they go wrong. In that sense they are like household plumbing.

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