SWIFT plans to start the GPI-paying system on the R3 Corda Blockchain


The head of SWIFT announced the tests of the GPI payments gateway using the Proof-OF-Concept (POC) test algorithm based on the R3 Corda platform, with which payment channels will also be monitored, support for API and other standards.

According to the General Director of SWIFT, Gottfried Leibbrandt, the project will allow companies using CORDA to authorize payments through the GPI network, make calculations with users’ banks and receive credit confirmation back to trading platforms, upon completion. Initially, the initiative is designed for the ecosystem R3, but in the future will be expanded to support other platform based on the blockchain, as well as not using distributed registry and e-commerce technologies.

David Ratter, CEO R3, said that after the recent launch of the Corda Settler payment solution, which allows you to pay for the obligations assigned to the platform and supporting the XRP, the connection to SWIFT is the following logical step, as the GPI quickly became a new standard of international calculations. As a result, all blockchain applications based on CORDA will benefit from using this system.

However, Luke Meuranta, director of Marketing SWIFT, said that, despite the growth in popularity of solutions based on DLT, cryptocurrency and instantaneous calculations in Fiat, still few people really interest.

Fidelity Investments, one of the largest assets management companies in the world, despite the crisis of the virtual currency market does not retreat from their plans to integrate cryptocurrency in their activities and intends to launch in March