SWFT Blockchain Signs Co-Existence Agreement with SWIFT
In a first for the blockchain industry, a startup registered in Singapore has come to an agreement with global payments telecommunications giant, SWIFT.
November 13th, 2018 – Smart Worldwide Financial Technology (SWFT Blockchain) has signed a co-existence agreement with the global provider of secure financial messaging services, Society for Worldwide Interbank Financial Telecommunication (SWIFT). This agreement is an important step for the blockchain industry as it further proves that the old and the new can coexist in the world of financial technology.
Like SWIFT before it, SWFT Blockchain, a cryptocurrency transfer platform and wallet app, enables financial transactions between different users and institutions across different currencies around the world. While SWIFT has been enabling global financial transactions in fiat currencies since 1974, SWFT Blockchain was founded in 2017 and currently enables direct transfers between over 75 cryptocurrencies. The co-existence agreement lets both companies focus on delivering the best product experience using their own respective technologies.
According to CFO Alex Witt, this agreement will allow SWFT Blockchain to continue using its established brand to “leverage its patent-pending machine learning and cross-blockchain technologies and further its mission of making all crypto transfers faster, safer, and easier.”
Having put the daunting potential legal challenge behind it, SWFT Blockchain is now able to focus on continuing to provide its users with low fees of 0.05% and fast transaction speeds of mere seconds. Currently, the SWFT Blockchain team is working on adding stable coins to the platform as Witt expects “stable coins to play a critical role in facilitating crypto transfers across blockchains.”
SWFT Blockchain is a next generation worldwide cross-chain transfer protocol. SWFT Blockchain’s technology combines blockchain, machine learning and big data to give users the ability to trade over 75 cryptocurrencies directly. SWFT Blockchain’s one-click cryptocurrency transfer platform and wallet app offers one-click in-wallet transfers, decentralized transfers, and price limit orders, offering a fast, affordable, and secure crypto transfer experience. SWFT Blockchain has received funding from top VCs, including Draper Dragon.