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Swift is adopting crypto rails without touching crypto "Swift moves money between 11,000 banks worldwide, and it does it at the speed of a slug. Anybody who has ever used the Swift network knows that it doesn't operate 24/7, 365 like crypto. They take days off and hours off,... show more
42,697 views • 2 months ago •via X (Twitter)
28 Comments

Ignoring the minor hyperbolic flair this is a good summary.

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This is the direction the industry is moving toward. Faster, cheaper rails are only part of the equation. As institutions begin moving tokenized deposits and real world assets onchain, protecting treasury movements, allocations, and trading strategies becomes just as important. Speed without confidentiality still leaves institutions exposed. Thanks for hosting $ZAMA ‘s CEO @randhindi yesterday, Scott. The discussion around confidential finance added an important piece to where this is all heading.

its been a long road to get here Scott

WoW

<coughing in #Chainlink>

Swift doesn't move money. It is a messaging system for banks that takes seconds and operates 24/7. If you look in Europe you have instant payment schemes that takes less than 10 seconds, operates 24/7 and use Swift for the messaging.

Tokenized deposits with permission slips is still just Swift with better branding. The infra upgrade doesn't fix the toll booths.

Ripple will be a settlement partner using...$XRP for the cross-border exchange.

We all know they are using XRP without mentioning it

Just an updated messaging system. Doesn't solve the value transfer. XRPL solves this.

Swift is a messaging service. Just to remind you and everyone reading the hype...

No xrp will me needed

$QNT BABY

What does that mean for token holders?

And all powered by base:0x88fb150bdc53a65fe94dea0c9ba0a6daf8c6e196

Eu uso toda semana o sistema Swift e já faz mais de 8 meses que o pagamento é instantâneo e também nos fins de semana

Interesting framing—adopting the infrastructure without the volatility. The real test is whether this improves settlement speed or just adds a crypto veneer to legacy latency.

Bro, that's just the legacy system trying to stay relevant. They'll copy the tech but keep the gatekeeping. Real crypto doesn't need permission.

They’ve been trying to circumvent crypto to build this new way to move money for years and haven’t been successful. You think they suddenly figured it out 😂

My understanding is the money in this trial is being settled traditionally. The information is being routed by dlt, but settlement is being done via their old corresponding banking system methodolgy. Anothet waste of time....

They aren’t going to let go of their archaic, slow, error-ridden, high fee system.

Touches link.

On their own crypto rails. The crypto bros will see zero reward from this.

Pyth

swift's gotta step it up! crypto's here for speed and efficiency.

Cool, but that doesnt stop their censorship abilities.

Sounds like they're trying to keep up with the times.

