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Bitcoin started the week flat, while LINK reached an eight-month high after Bottomline selected Chainlink to connect more than 600 banks to blockchain settlement. Bottomline provides SWIFT services and processes $16 trillion annually.
DBS and Citi completed a weekend USD payment through Swift’s Digital Ledger using tokenized deposits. It is the second confirmed live use of Swift’s blockchain ledger as the network seeks to compete with always-on digital payment rails.
CoinDesk traces the evolution of money transfer from hawala to Swift, showing how efforts to remove friction and physical handling have improved efficiency while creating new opportunities for increasingly sophisticated exploits.
Blockchain payment infrastructure is challenging Swift’s established role, while bankers argue its 11,500-institution network can absorb the technology. Crypto executives instead see blockchain as a potential replacement for Swift.
