SWIFT catching up to Ripple in speed after instant remittance trial
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) conducted 17 international payments between multiple countries averaging 25 seconds per transaction with the fastest clocked at 13 seconds per CoinTelegraph. SWIFT utilized its Global Payments Innovation (GPI) and Singapore's domestic system, FAST. CoinTelegraph notes that private competitor Ripple maintains a slight speed edge.
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