SWIFT Tests Blockchain for Real Time Nostro Database Reconciliation

[kreslik.news]

The network handling the majority of modern international interbank messages, SWIFT (Society for Worldwide Interbank Financial Telecommunication), has launched a Proof of Concept (PoC) to determine how blockchain or distributed ledger technology (DLT) could help banks improve the reconciliation of their nostro databases in real time.

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The test is part of SWIFT’s global payments innovation (gpi) initiative, which was launched in December 2015 to deliver a new standard in cross-border payments. With more than 90 banks signed up, representing more than 75% of its cross-border payments ... (read more)