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Traditional interbanking platform (SWIFT) has announced it will soon be enabling GPI payments on distributed ledger-based trade platforms.

SWIFT GPI (Global Payments Innovation) allows banks to send and receive funds quickly and securely to anyone, anywhere in the world, with full transparency over where a payment is at any given moment. SWIFT claims GPI was designed to improve cross-border payments"dramatically."

According to the official statement, SWIFT will enable GPI payments for DLT business to be initiated within trade workflows, automatically passing them on to the banking system. Previously iHodl reported that SWIFT wanted to launch a Proof-of-Concept (POC) dubbed GPI Link in order to connect blockchain-based company R3 to join to Global Payments Innovation.

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