Yesterday Jonathan Ehrenfeld Solé, SWIFT’s Strategy Director, explained how SWIFT could leverage its connectivity to 11,000 banks to enable them to issue, clear, trade and settle digital assets on blockchains, both public and private. SWIFT is best known for its cross border payments messaging network.
Before getting into the details, Ehrenfeld Solé was widely misquoted in the press as making bullish statements about crypto. What he actually said was, “There is undeniable interest from institutional investors in digital assets. Whether these are stablecoins, CBDCs or anything you can tokenize in the capital market space. So that could be equities, bonds or anything else.”
Later on, he was even more specific. “For the capital markets industry, it’s not necessarily crypto where we see the big take up now or in the long term,” said Ehrenfeld Solé. “It’s more on the digital securities or the tokenization of equities or bonds. And anything linked to the cash leg of that, which could be CBDCs, stablecoins or something in that realm. But not necessarily crypto for now.”
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