SWIFT Archives - Top Crypto Game https://topcryptogame.com/tag/swift/ The latest crypto news! Wed, 24 Jul 2024 13:55:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://topcryptogame.com/wp-content/uploads/2022/01/cropped-favicon-32x32.png SWIFT Archives - Top Crypto Game https://topcryptogame.com/tag/swift/ 32 32 Minima and Mercury FX join forces to challenge SWIFT with blockchain tech https://topcryptogame.com/minima-and-mercury-fx-join-forces-to-challenge-swift-with-blockchain-tech/ https://topcryptogame.com/minima-and-mercury-fx-join-forces-to-challenge-swift-with-blockchain-tech/#respond Wed, 24 Jul 2024 13:55:22 +0000 https://topcryptogame.com/minima-and-mercury-fx-join-forces-to-challenge-swift-with-blockchain-tech/ Minima, a layer-1 blockchain focused on decentralized physical infrastructure network (DePIN) solutions, is collaborating with Mercury FX, a global currency payment solution, to develop an alternative to SWIFT, the world’s largest payments messaging network. According to a July 24 statement shared with CryptoSlate, this proof of concept will leverage Maxima—Minima’s information transport layer protocol—which allows […]

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Minima, a layer-1 blockchain focused on decentralized physical infrastructure network (DePIN) solutions, is collaborating with Mercury FX, a global currency payment solution, to develop an alternative to SWIFT, the world’s largest payments messaging network.

According to a July 24 statement shared with CryptoSlate, this proof of concept will leverage Maxima—Minima’s information transport layer protocol—which allows users to exchange information by performing a small amount of work from their device, called Transaction Proof of Work (TxPoW).

The firm stated that Maxima would ensure that messages are encrypted and can only be read by the recipient. This method, it argues, enhances the system’s security by increasing the number of hash functions.

Why Maxima?

According to the statement, an innovative alternative to SWIFT is needed in the global financial system because the traditional financial infrastructure faces several challenges, including high operational costs, slow processing speeds, and cyber-attack vulnerabilities.

However, Maxima’s capabilities promise faster transaction times, reduced latency, and enhanced security by encrypting messages with the recipient’s public key. Additionally, its fully decentralized nature further bolsters the system’s security.

So, the collaboration aims to set a new standard for global financial communications by addressing SWIFT’s vulnerabilities and improving overall security, efficiency, and compliance in international payments.

Hugo Feiler, CEO of Minima, stated that the partnership between both firms could lead to a paradigm shift in how money moves across borders. He added:

“We are at a critical juncture in the evolution of financial technologies. This trial is not just about proving the technological capabilities of Maxima, but setting a new standard for global financial communications in terms of security, efficiency, speed, cost, and compliance.”

This view was also corroborated by Alastair Constance, CEO of Mercury Global, who stated:

“By leveraging Maxima in our payment systems, we anticipate improved efficiency, reduced costs, and quicker transactions as well as a quantum leap in the increase of data that could travel with a payment.”

The firms stated that the feedback from this trial will be crucial in refining and expanding the use of Maxima for global financial messaging.

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]]> https://topcryptogame.com/minima-and-mercury-fx-join-forces-to-challenge-swift-with-blockchain-tech/feed/ 0 XRP vs. XLM? Ripple and Stellar Lumens compete for the crypto payments throne! https://topcryptogame.com/xrp-vs-xlm-ripple-and-stellar-lumens-compete-for-the-crypto-payments-throne/ https://topcryptogame.com/xrp-vs-xlm-ripple-and-stellar-lumens-compete-for-the-crypto-payments-throne/#respond Mon, 04 Dec 2023 12:40:57 +0000 https://topcryptogame.com/xrp-vs-xlm-ripple-and-stellar-lumens-compete-for-the-crypto-payments-throne/ WHICH DO YOU PREFER? XLM OR XRP? Use Coupon code “FUDNATION” for 15% off your Crypto swag from: Do you have any more questions for us or our community? Don’t be afraid to ask below! Follow us on Twitter: Follow us on Instagram: DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based […]

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WHICH DO YOU PREFER? XLM OR XRP?

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]]> https://topcryptogame.com/xrp-vs-xlm-ripple-and-stellar-lumens-compete-for-the-crypto-payments-throne/feed/ 0 Unbelievable Cardano COTI Update!! Polygon in Forbes | Ethereum's Major Concern & more Crypto news https://topcryptogame.com/unbelievable-cardano-coti-update-polygon-in-forbes-ethereums-major-concern-more-crypto-news/ https://topcryptogame.com/unbelievable-cardano-coti-update-polygon-in-forbes-ethereums-major-concern-more-crypto-news/#respond Fri, 27 Jan 2023 01:43:14 +0000 https://topcryptogame.com/unbelievable-cardano-coti-update-polygon-in-forbes-ethereums-major-concern-more-crypto-news/ Cardano and COTI are about to boom as they launch the new DJED stablecoin. Vitalik explains the biggest concern with Ethereum, Binance is losing banking partner SWIFT, and Polygon gets praised by forbes. 🚀Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access🚀 Join Altcoin Buzz Access Pro FOR FREE➡️ Axie […]

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Cardano and COTI are about to boom as they launch the new DJED stablecoin. Vitalik explains the biggest concern with Ethereum, Binance is losing banking partner SWIFT, and Polygon gets praised by forbes.

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