{"id":168,"date":"2024-10-08T09:09:16","date_gmt":"2024-10-08T13:09:16","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/fintech\/?p=168"},"modified":"2025-04-03T14:46:10","modified_gmt":"2025-04-03T18:46:10","slug":"swift-pilots-live-digital-asset-transactions-beginning-in-2025","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/fintech\/2024\/10\/08\/swift-pilots-live-digital-asset-transactions-beginning-in-2025\/","title":{"rendered":"Swift Pilots Live Digital Asset Transactions Beginning in 2025"},"content":{"rendered":"\n<p><em>By <a href=\"https:\/\/www.duanemorris.com\/attorneys\/josephsilvia.html\">Joe Silvia<\/a><\/em><\/p>\n\n\n\n<p>On October 3, 2024, the Society for Worldwide Interbank Financial Telecommunication (\u201cSWIFT\u201d), the global bank messaging network, <a href=\"https:\/\/www.swift.com\/news-events\/news\/live-trials-digital-asset-transactions-swift-start-2025\">announced<\/a> plans to allow global financial institutions the ability to use its platform to conduct pilot transactions for the settlement of digital assets and currencies starting in 2025. This announcement is just the latest advancement for the digital assets ecosystem as it moves the settlement of digital assets and currencies from Swift experimentation to live transactions.<\/p>\n\n\n\n<p>Swift indicated that \u201cthese trials will demonstrate how financial institutions can transact interchangeably across both existing and emerging asset and currency types using their current Swift connection\u201d and the \u201ctrials aim to address a key challenge in the continuously evolving digital asset market: the rise of disconnected digital platforms, or \u2018digital islands\u2019, that could hinder more widespread adoption and ease of use for new forms of value.\u201d Swift notes that its ultimate vision in this space is to give financial institutions a single point of access to multiple digital asset classes and currencies, and this move to pilot transactions \u201cmarks an important milestone\u201d toward that ultimate vision.<\/p>\n\n\n\n<p>While the announcement reflects the continued interest and demand for further integration of digital assets in the global financial system, we anticipate continued sluggish progress to that end, given the broad range of stakeholder perspectives.<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> The content provided is for informational purposes only and does not constitute financial, investment, or legal advice. While our law firm has substantial experience in cryptocurrency law and regulation, we do not offer investment advice or opinions on cryptocurrency as an investment. Consult a financial advisor before investing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Joe Silvia On October 3, 2024, the Society for Worldwide Interbank Financial Telecommunication (\u201cSWIFT\u201d), the global bank messaging network, announced plans to allow global financial institutions the ability to use its platform to conduct pilot transactions for the settlement of digital assets and currencies starting in 2025. This announcement is just the latest advancement &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/fintech\/2024\/10\/08\/swift-pilots-live-digital-asset-transactions-beginning-in-2025\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Swift Pilots Live Digital Asset Transactions Beginning in 2025&#8221;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[49,90,91,89],"ppma_author":[12],"class_list":["post-168","post","type-post","status-publish","format-standard","hentry","category-general","tag-digital-asset-recovery","tag-digital-assets","tag-digital-currency","tag-joe-silvia"],"authors":[{"term_id":12,"user_id":6,"is_guest":0,"slug":"duanemorris3","display_name":"Duane Morris","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/843ff6e7a8fe5fc92109b47a45f34b6cf0ea499e6e788db23456c838b0ae6747?s=96&d=blank&r=g","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/posts\/168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/comments?post=168"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/posts\/168\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/media?parent=168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/categories?post=168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/tags?post=168"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/fintech\/wp-json\/wp\/v2\/ppma_author?post=168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}