SWIFT is developing its own blockchain ledger prototype in partnership with Consensys, potentially hindering Ripple and Stellar’s plans for global adoption. Despite being positioned as faster alternatives to SWIFT, these platforms have not significantly impacted SWIFT’s market share. SWIFT aims to connect banks and emerging blockchain platforms, focusing on interoperability rather than payment processing. This move comes as SWIFT explores integrating central bank digital currencies and tokenized assets into existing financial infrastructures. Ripple and Stellar have contributed to the fragmentation that may redefine SWIFT’s role in the blockchain era.

Read more at Yahoo Finance: Blockchains Were Meant to Replace SWIFT, But Now the Organization Is Building its Own