According to CoinDesk, SWIFT currently processes approximately $5 trillion in cross-border settlements daily, but transaction costs range from 1% to 4% and settlement takes 1 to 5 business days. In the face of competition between stablecoins and tokenized assets, SWIFT launched a blockchain ledger last month. HSBC and Standard Chartered Bank completed their first real-time transaction through this system, reducing settlement time to seconds. BNY expects the stablecoin and tokenized cash market size to reach $3.7 trillion by 2030, while Citigroup expects the tokenized securities market size to increase to $5.5 trillion during the same period.
