SWIFT Gives Blockchain Platforms Access to Instant Payments

Global interbank platform SWIFT will allow blockchain firms to use its Global Payments Innovation (GPI) platform for near real-time payments, following a successful proof-of-concept on R3’s Corda platform.

The GPI platform was launched in January 2017. It provides GPI a set of rules encoded on top of SWIFT existing infrastructure in order to increase speed, and to ensure transparency and traceability of transactions.

Now more then half international payments over GPI, with the volume over $40 trillion.

SWIFT states that it will connect the GPI Link gateway with R3’s Corda platform to monitor payment flows and support application programming interfaces (APIs), as well as SWIFT and ISO standards.

Charley Cooper, R3 MD:

“SWIFT’s intention to expand blockchain access to its GPI Link is an important step towards enterprise blockchain adoption and Corda is already a leader in this space.”

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