SWIFT has launched a blockchain-based shared ledger enabling 17 banks across six continents to pilot cross-border payments using tokenized deposits, marking the payment network's first live use of distributed ledger technology for 24/7 banking.
Western Union announced it will launch USDPT, a Solana-based stablecoin, next month to serve as an alternative to SWIFT for agent settlements. The company is also introducing a 'Stable Card' for global consumer payments and a network connecting digital wallets to its retail infrastructure.
The European Union formally approved its 20th package of sanctions against Russia over the war in Ukraine, targeting additional Russian banks, cryptocurrency operations, and trade restrictions. The package includes measures to cut sanctioned banks from SWIFT and further restrictions on financial services.
