SWIFT

Payment SystemsUpdated: October 15, 2025

Also known as: SWIFT Network, Society for Worldwide Interbank Financial Telecommunication

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Automated Clearing House (ACH)Payment Rails Real-Time Payments (RTP)

Global messaging network for international bank transfers

Global messaging network for international bank transfers.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) connects over 11,000 financial institutions worldwide for cross-border payments. While secure, SWIFT transfers are slow (1-5 days) and expensive, driving interest in blockchain alternatives.

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