Blockchain solutions like stablecoins are pressuring payment processors to modernize. Swift, a global payments leader, is building a blockchain for instant transactions worldwide, working with major financial institutions like Bank of America. Traditional finance is embracing blockchain technology, with stablecoins allowing for instant payments and lowering fees. US and EU banks are exploring stablecoin launches. McKinsey sees stablecoins as challenging traditional payment systems, estimating $100 trillion in annual stablecoin trades by 2030.

Read more at Yahoo Finance: Payments Giant Swift Guards Speed Record With a Bet on Blockchain