• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Swift
Nexo Logo

SWIFT Partners With MonetaGO to Bring Blockchain to Indian Banking System

Ricardo Esteves by Ricardo Esteves
4 years ago
in Blockchain
Reading Time: 2 mins read
Advertisement

SWIFT has announced a pilot program in partnership with MonetaGo to explore distributed ledger technology in its financial messaging service. The company’s Indian subsidiary will experiment the technology with local customers banks which will use a shared distributed ledger network designed to improve the efficiency and security of their products and procedures as well as to meet industry-level governance and data privacy requirements.

Indian Financial System Moves Closer to Blockchain Despite Central Bank Pressure Towards Crypto Trading

MonetaGO, which provides private permissioned blockchain solutions for financial institutions and central banks, is a New York-based startup launched in 2014. The well-funded project has acquired blockchain technology and financial solutions provider Blockchain Technology Group Inc. (BTGI) in 2015. Privately funded by a handful of investors, the firm had launched a Bitcoin trading platform which allowed its exchange for 28 fiat currencies and a bitcoin peg. MonetaGO now offers technology for supply chain finance and corporate issuances.

In 2017, the firm decided to separate Bitcoin and blockchain technology. It was by that time that MonetaGo entered a pilot program with the Reserve Bank of India, known for its hostility against cryptocurrency trading. The company has been particularly active in India, signing agreements with commercial banks in order to develop blockchain infrastructure for payments, remittance, and trade-finance settlement processes. The participation of SWIFT India and its financial messaging system will add value to the blockchain network established with local banks, according to Kiran Shetty, chief executive officer of SWIFT India.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“SWIFT India is committed to provide significant value to the Indian financial community through digitisation of trade. MonetaGo’s expertise in providing fraud mitigation solutions to avoid double-financing and check authenticity of e-way Bill gave us the confidence to partner with them..”

The blockchain startup, which has deployed its Fraud Mitigation Network earlier in 2018, is committed to helping banks with critical real-time decision making in heavily regulated environments, said Jesse Chenard, chief executive officer of MonetaGo.

“Given India’s focus on a digital infrastructure which is supported by both policy and technological innovation, it makes sense that large institutional players are interested in these products and initiatives. This work is going to positively impact the information available to the banking industry at large.”

SWIFT has recently made the headlines for ousting the Central Bank of Iran (CBI) from its financial banking system. The US-led sanctions against the Islamic Republic of Iran are behind the move, which further isolates the increasingly alienated country.

 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Image from Shutterstock
Tags: blockchaincryptocurrencydistributed ledgermonetagorbiswiftswift india
Tweet123Share248ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Ricardo Esteves

Ricardo Esteves

Related Posts

Lido

Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion

5 days ago
bitcoin bull run

Huobi Co-Founder Says Next Bitcoin Bull Run Could Be 3 Years Away

3 months ago
Axie Infinity

Axie Infinity Sets Record-Breaking $4 Billion In NFT Sales

3 months ago
Picture depicting the interconnectedness of blockchain technology, as survey shows blockchain technology is becoming mainstream

Deloitte Survey Shows 76% Of Finance Execs Think Physical Money Is Nearing Its End

9 months ago
Pakistani Blockchain Marketplace, Bazaar Secures $30 million In Funds

Blockchain Startup In Pakistan Dubbed Bazaar Secures $30 million In Funds

9 months ago
Van Valkenburgh, gems, pink quartz

Five Gems From Van Valkenburgh’s Testimony At The Congressional Hearing

11 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Gringotts Labs rolls out Lending Protocol Zenith after Capricorn Finance becoming a winner

May 28, 2022

Datamall Chain – A Pioneer of Web3 Data Storage

May 28, 2022

Introducing Zenith.Finance, a dark-horse lending protocol crypto players should notice recently

May 27, 2022

An introduction to Capricorn.Finance

May 27, 2022

The Web3 community platform Mojor launched the alpha version

May 27, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.