SWIFT Tests On-Chain Messaging with Linea, Stablecoin Pending

SWIFT selects Linea for testing on-chain messaging with approximately twelve international banks participating, but stablecoin development remains uncertain, as clarified by Raphaël Bloch, co-founder of The Big Whale.

This potential adoption of blockchain technology by SWIFT could transform global banking communication systems, though tangible market impacts await further development beyond the experimental phase.

SWIFT’s On-Chain Messaging: A Dozen Banks Involved

Raphaël Bloch noted, “SWIFT has chosen Linea to test its on-chain messaging model, with about a dozen banks currently participating. However, the stablecoin is still in the ‘under consideration’ stage, and the interbank token project is still under review.” source.

The immediate implications concern only pilot testing, aimed at evaluating on-chain messaging innovations. The involvement of major banks suggests industry interest, although full integration or stablecoin issuance has not been reached. SWIFT’s exploration highlights their interest in blockchain technology.

Industry observers note limited immediate market reaction due to the early phase of SWIFT’s tests. No financial shifts or major institutional statements have surfaced. Community discussions focus on potential implications if SWIFT proceeds further, reflecting industry anticipation rather than actual implementations.

SWIFT’s Blockchain Efforts and Market Perspectives

Did you know? In 2019, SWIFT piloted blockchain integrations with R3’s Corda, indicating consistent experimentation in blockchain solutions but no production-stage outcomes.

According to CoinMarketCap, Ethereum (ETH) trades at $4,000.00 with a market cap of $482.78 billion and holds 12.81% dominance. Recent price changes show a 0.03% increase over 24 hours, while experiencing a 10.48% drop over the past week.

Coincu research team suggests SWIFT’s ongoing explorations could lead to future industry standards if successful. Analysis points to long-term financial integration potentials, pending stability and regulatory frameworks.