stable coins
By Sydney TheCMO
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Which Countries Are In — and Who's Still Out. Right now the framework covers Australia, Brazil, China, India, South Africa, South Korea, Spain,…
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Ripple, Circle, and the Blockchain Pressure Building on Swift. J.P. Morgan isn't just implementing Swift's framework.
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Swift went live. Bank of America and J.P. Morgan flipped the switch on August 5, rolling out Swift's new international retail transfer framework — and it's a bigger deal than the…
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The core pitch is pretty simple: users can see exactly what a transfer will cost before they send it, and they're guaranteed to receive the full amount on the other end.
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Bank of America and J.P. Morgan are among the first U.S. banks to actually implement it.
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Right now the framework covers Australia, Brazil, China, India, South Africa, South Korea, Spain, and Turkey. That's a solid footprint, but it's clearly just the start.
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The U.S. angle matters here. Remittances into the United States run at roughly $9 billion annually, per World Bank figures.
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And the timing isn't accidental. Swift's upgrade lands right as a wave of blockchain firms and stablecoin issuers are pushing hard into the same cross-border payments space.
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J.P. Morgan isn't just implementing Swift's framework. The bank is also involved in the Bank for International Settlements' Project Agorá, which is exploring tokenized deposits…
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See also: Western Union Stablecard Rolls Out Across 37 Markets on Solana and Visa Rails
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Ripple is building blockchain-based infrastructure aimed directly at cross-border payments. The pitch there is faster settlement using digital asset technology, letting…
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Circle is taking a different angle. The company is focused on dollar-backed stablecoin infrastructure — digital versions of fiat currencies that can move across borders quickly…
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Financial institutions more broadly are expanding into blockchain initiatives to enable round-the-clock cross-border payments.
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Swift's framework is a direct response to that pressure. Upfront cost visibility and faster settlement in supported corridors are exactly the features that blockchain advocates…
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And scale is where Swift still wins, at least for now. 11,500 institutions in 200-plus countries is not something Ripple or Circle can match today.
The Currency Analytics
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