In August 2024, the dollar accounted for almost half (49.1%) of payments handled by the global payment network SWIFT, with no other currency presenting solid competition to the dollar’s role in international payments.
SWIFT network is to launch an AI-powered solution to bolster fraud detection in cross-border payments, analyze vast amounts of real-time payment data, and mitigate risks.
The SWIFT global banking messaging network has intentions of creating a new platform to connect multiple central bank digital currencies (CBDC) to the existing financial system.
ANZ Bank has explored how its stablecoins might seamlessly navigate between different chains using Chainlink CCIP to streamline the purchase of eco-friendly assets.
Swift continues exploring CBDC interoperability, proceeding to the next testing phase with three central banks / monetary authorities and over 30 financial institutions involved
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