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I don't think it's anything to do with cryptocurrency. The large British banks introduced their equivalent (being outside the Euro) in 2009-2010. I expect othe
by Symbiote 3y ago
I don't think it's anything to do with cryptocurrency.
The large British banks introduced their equivalent (being outside the Euro) in 2009-2010. I expect other European countries had national systems at around that time too.
- p_l 3y agoBritish banks were arguably quite slow at the time, with cheques and 5 business day clearing still being common (as well as inane account numbering scheme). But SEPA system was something that was "in the works" for I think a decade by then. A lot of it was essentially setting up faster interconnection that was compatible and cooperated with existing SWIFT systems and essentially enforced one standard set of parameters.