Re:Swift payments network to cut access to crypto exchanges
by ben_w on Sunday January 22, 2023 @03:35AM
(#34475498)
The first I explicitly acknowledged by saying it varies by crypto. Both are irrelevant.
SWIFT is (a) not the only inter-bank system, and (b) is specifically for inter-bank exchanges (the "I" is for Interbank), so when a transaction is between two accounts in the same bank it doesn't need to touch SWIFT.
SWIFT is (a) not the only inter-bank system, and (b) is specifically for inter-bank exchanges (the "I" is for Interbank), so when a transaction is between two accounts in the same bank it doesn't need to touch SWIFT.