Payments
Swift's Quiet Counter: Why the Tokenised-Deposit Ledger Just Disintermediated the Stablecoin Trade
John Grey — Macro & cross-asset desk On July 9, in a press release out of Brussels, the Society for Worldwide Interbank Financial Telecommunication announced that its blockchain-based shared ledger was ready for initial use. Seventeen banks from six continents — Citi, HSBC, UBS, BNP Paribas, Wells Fargo, BNY, MUFG,