Published on May 14th, 2018 | by bitcoin0
Bitcoin Replaces SWIFT for International Loan Transfers in Germany
The Swift international transfer system has definitely earned the trust of banking institutions all over the world.
The technology that came into existence over 40 years ago revolutionized the international money transfers: it set the new standards for security and speed of transactions.
It is not losing the popularity over years: in March 2018, SWIFT recorded an average of 30.74 million FIN messages per day.
The new accomplishment is the usage of Bitcoin for handling international loans – the new service available for the clients of German online bank Bitbond.
Thirdly, the transaction time of traditional SWIFT money transfers is far from instant payments.