SWIFT plans to establish a blockchain-based crypto payments ledger using Ethereum's layer 2 solution, Linea, as announced by ConsenSys CEO Joe Lubin at the TOKEN2049 conference. The initiative will utilize Linea's zk-EVM rollup technology to facilitate near-instant, 24/7 interbank settlements with reduced fees. Major financial institutions, including Bank of America, Citi, JPMorgan Chase, and Toronto-Dominion Bank, are involved in the trials. Linea currently holds $2.27 billion in total value locked and handles about 1.5 transactions per second.
SWIFT to Develop Crypto Payments Ledger on Ethereum's Linea
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.