BANKS JUST FOUND A WAY TO USE BLOCKCHAIN WITHOUT TOUCHING CRYPTO. AND IT CHANGES EVERYTHING. 🇺🇸 SWIFT is moving its global payment network on-chain. 40+ banks. 200+ countries. Live with real transactions this year. The key isn't the blockchain. It's what moves on it: tokenized bank deposits. A stablecoin... is a claim on a private issuer outside the banking system. A tokenized deposit is real money, in a real bank, under real regulation. Just on-chain. Banks get the speed and 24/7 settlement of crypto rails. The money never leaves their control. That's why they stopped fighting blockchain. They found the version that keeps them in charge.show more

Were you just wrote makes no damn sense do you even understand what tokenize deposits are? And even if you had a stable coin, not all countries are gonna be using the same stable coin. Every country is gonna have their own stable coins which means you still need a bridge currency and liquidity to be able to transfer.

The moment you realize what's happening, you already won.

> just more like after a decade of coordinated work

if you really want to understand whats happening. $LINK is thr only token needed

Crypto is absolutely being used, just not as the “liquidity layer” or “bridge asset”. DLT rails, many chains- public and private alike-one orchestration layer.

Now you just moved the nostro vostro problem to tokenized serves. It make the legacy system faster. It doesn't make it cheaper.

Chainlink powers all of it

So countries with resources would ever use it considering whats done to them weaponizing SWIFT? Absolutely not! Take this news as FUD to force retail give up ownership #bitcoin

Will Banks waive the transaction fee, management fee and currency exchange fee for their customers?

Stablecoins are not bridges, they don't provide ODL, and do nothing to alleviate the friction of cross border payments. Learn the difference. A really dump post.

LoL wasn’t XRP replacing swift 😂

this may end up being one of the biggest shifts in finance. not because banks embraced crypto, but because they embraced the underlying infrastructure

It utilizes $LINK.

🤣

And all the XRP fanboys think they hold a generational wealth token. This is why XRP will never reach even $5.00. Nobody uses it and Nobody will

F’ing moron. Still needs a bridge. You can’t just use stablecoins. Must have gas. Guess you just can’t fish stupid. 🤷‍♂️🤦‍♂️

They found Kaspa????? #kaspa $KAS

So xrp goes to 0

This is a bit of a misnomer of a post. Banks are using Crypto inside of the new swift rails, but for most banks this requires a huge amount of technical integration with both Oracle as well as Ibm systems.

Running on $QNT overledger? 🤔

Just put your tinfoil hat on again 😂

Payments converted into $LINK 🧊 #IFYKYK

And how will they tokenise bank Deposits ? Stellar was chosen to tokenise for DTCC. There will still be networks being used for tokenising

The purpose of blockchains was built upon 4 core principles: Decentralization, Immutability, Transparency & Cryptographic Security All these legacy companies building their own chain might as well bring back R3Corda,Quorum,Hyperledger Is it really onchain? Permissioned ledgers?

SWIFT is moving on chain using ETH L2, Linea, working and consulting with @ethereumJoseph of $SBET and Consensus. SWIFT will be on ETH.

they basically made their own stablevoins but called it a tokenized deposit lmao

Eso se sabe desde hace años en la ledger también lo pueden hacer y se llama ocurren, pero no es el punto, el punto es el bridge entre cuentos de stablecoin distintas q no tienen liquidez, es las cuentas de tesorería son los ETF es xrp como colateral, infórmate mejor

The signal is that banks are no longer treating blockchain as a separate system. They are starting to use it inside the financial infrastructure people already rely on.

@nullpackets @chainlink

perhaps you should delete this drivel as none of it makes sense

Jajaja no tienes ni pajotera idea lee los papers de bis ....Swift is over ..

So, in theory, this would make stablecoin staking a viable option for investing in a sense, right? The Clarity Act only banned PASSIVE yields, staking is putting the token to use. That’s where I went from a consumer standpoint of “How can I win here?”

Not sure you can believe much coming from from Swift or the Banks while they are still trying to Killing The Bill..

Xlm

Thanks to Chainlink. 👍