Banks in North America, Europe and Asia are preparing to test digital assets

SWIFT announced that it will begin testing digital assets on its network in 2025. These will be experiments with transactions involving the use of multiple cryptocurrencies and fiat currencies.

Purpose of the tests

The main goal is to explore how the banking network can provide financial institutions with unified access to various classes of digital assets and currencies.

In the initial stages, the tests will focus on areas such as payments, foreign exchange, securities, and trade. This will create conditions for conducting multilateral transactions across different schemes.

Company's motivation

In its statement, SWIFT noted that it plans to use its unique position to unite fragmented electronic funds networks and integrate them with traditional fiat currencies. This will create a unified system that will facilitate seamless transactions using all types of assets.