Cross border payment service will online in the future

According to Ezdnetf SWIFT, the global test results of integrating SWIFT gpi Instant (cross-border instantaneous payment service) in Singapore's domestic instant payment service were announced. The test involved 17 banks in 7 countries, including Australia, China, Canada, Luxembourg, the Netherlands, Singapore and Thailand. Payments can be made within 25 seconds between these regions, with Australia taking the shortest time to pay in Singapore, which takes only 13 seconds. According to "Coin World", SWIFTS and R3 jointly developed GP (Cross-Border Instant Payment Service), confirming blockchain technology as its core technology, and expecting to establish more open financial services and application models in the banking ecosystem.