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Interbank settlements are fully digital for decades, there's one system per central bank. There is a federated system that works world over (SWIFT). It is also
by H8crilA 3y ago
Interbank settlements are fully digital for decades, there's one system per central bank.
There is a federated system that works world over (SWIFT). It is also decades old.
- marcosdumay 3y agoIt is digital but it's not very open. That one system that works is expensive, slow, and not very secure. The fact that it's still there, and it still have those features is a clear reason why something different is needed.
- H8crilA 3y agoTypical rates: $0.3 per payment within a country $5.0 per international payment I don't think that's expensive. And it is open to all banks and certain other financial institution.