SWIFT launches global cross-border payments scheme

[etfs]

SWIFT announced a new global payments initiative aimed at making cross-border transfers for consumers and SMEs as fast and predictable as domestic payments. Over 40 banks are collaborating on the framework, with a minimum viable product expected in the first half of 2026.

The scheme focuses on transparency and reliability: upfront fee and FX disclosure, guaranteed full-value delivery, and end-to-end visibility on payment status. While payments will still settle through traditional correspondent banking, this marks a major step toward modernizing international transfers.

[tradelikepro]

ripple has been yelling about this for years and now swift is like “ok but what if we just made it clearer.”