The Japanese government has recently confirmed it aims to build an international network for cryptocurrencies. The project is designed to mimic SWIFT in terms of cross-border partnerships and access. I can imagine this having some resistance as it is said that it will not have much to do with the traditional banking sector. It has been said there will be a Financial Action Task Force set up to look out for the monitoring of the development of this new network. There is alot of secrecy surrounding the project but there is a plan to establish a new network in June of 2019. Previously, there were rumors regarding the involvement of cryptocurrencies. Those rumors have now been confirmed. By claiming this network will rival SWIFT. SWIFT, the Society for Worldwide Interbank Financial Telecommunications, is an internationally used messaging service that provides a standardised messaging system between banks across the world. SWIFT went live back in 1977 and today is used by more than 11,000 financial institutions who use it to send out over 25 million messages a day according to moneymover.com. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next WTI bulls struggle at trendline resistance capped by 50-DMA FX Street 4 years The Japanese government has recently confirmed it aims to build an international network for cryptocurrencies. The project is designed to mimic SWIFT in terms of cross-border partnerships and access. I can imagine this having some resistance as it is said that it will not have much to do with the traditional banking sector. It has been said there will be a Financial Action Task Force set up to look out for the monitoring of the development of this new network. There is alot of secrecy surrounding the project but there is a plan to establish a new network in June… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
