In a significant development for crypto markets news, SWIFT, the global interbank cooperative society, is set to conduct trials for digital asset transactions in 2025. This initiative will allow over 11,000 financial institutions to utilize the SWIFT network for secure trading of digital assets.
The trials will take place across North America, Europe, and Asia. Participating banks will be able to conduct digital asset transactions as the program builds on prior experiments assessing the international viability of such systems.
SWIFT views this initiative as a major innovation toward establishing a single access point between the financial sector and digital asset classes. Earlier this year, SWIFT also conducted international CBDC trials, showcasing its commitment to advancing the integration of traditional finance with digital currencies.
Industry experts have shared their perspectives on the opportunities and challenges presented by this project. David Pinger, CEO and co-founder of Warden Protocol, called it a groundbreaking step for the financial industry.
