KCN PARTNERSHIP SWIFT AND R3

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KCN PARTNERSHIP SWIFT AND R3

SWIFT international payment system announced the introduction of technology from R3. This is stated in the SWIFT press release “ SWIFT announces a proof-of-concept (PoC) to trial gpi Link, a gateway to interlink ecommerce and trading platforms with SWIFT gpi – the new standard in cross-border payments. The first stage of the PoC will work on R3’s leading blockchain platform, Corda, and aims to bring the benefits of gpi payments’ speed, ubiquity and certainty to distributed ledger technology (DLT)-enabled trade. The PoC addresses the need for DLT-based commerce to be supported by global, fast, secure and transparent settlement using fiat currencies by enabling ‘off-ledger’ payment settlement based on gpi. In the PoC, corporates using the R3 platform will be able to authorise payments from their banks via gpi Link; gpi payments will be settled by the corporates’ banks, and the resulting credit confirmations will be reported back to the trade platforms via gpi Link on completion. Subscribe to our social networks and send us your news! The news release partner STEX.

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