Cross-border payments at a crossroads between SWIFT and DLT

Alexis Derviz

A chapter in CNB Global Economic Outlook - June 2023, 2023, pp 13-17 from Czech National Bank, Research and Statistics Department

Abstract: Decentralized ledger technologies (DLT) made popular by bitcoin and other crypto assets did not create new moneys. One of the things they did create was an alternative channel of cross-border value transfers independent of correspondent banks. In response, banks engaged in international payments started to experiment with blockchains themselves. In this article, I review the current cross-border payment landscape from the point of view of DLT adoption and try to assess the potential of current and emerging solutions.

Date: 2023
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