SWIFT the biggest international banking payment system announced in the Paris Fintech Forum recently that they will be incorporating Proof-of-Concept (PoC) with the U.S-based blockchain consortium R3. The new GPI (Global Payments Innovation) payments intends to counter the growing influence of RippleNet which has slowly beginning to gain traction as a reliable & efficient cross border settlement system among the financial institutions of the World. SWIFT has taken part in several blockchain pilots but so far failed to implement the DLT to its outdated system. I think it’s time they are realizing that they either need to move with the evolving fintech system or be left out!

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