According to Cointelegraph, banks in North America, Europe, and Asia are preparing to participate in SWIFT’s new digital asset trial. SWIFT announced that it will start digital asset trials on its network in 2025, focusing on trading experiments of multiple digital currencies and assets.
The trial aims to explore how the banking network can provide financial institutions with unified access to “multiple digital asset classes and currencies.” Initial use cases will focus on payments, foreign exchange, securities and trade to enable multi-ledger delivery-to-payment and payment-to-payment transactions.
SWIFT stressed that the rapid growth of unconnected platforms and technologies in the digital asset economy has led to an “increasingly fragmented landscape”, which poses a significant barrier to global adoption. SWIFT will leverage its unique position to interconnect these disparate networks with existing fiat currencies, enabling its global community to seamlessly transact using digital assets and currencies.